Arcellx Inc (NASDAQ: ACLX) stock jumped 5.83% on Friday to $55.21 against a previous-day closing price of $52.17. With 0.9 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.57 million shares. The 52-week range on ACLX shows that it touched its highest point at $54.56 and its lowest point at $18.70 during that stretch. It currently has a 1-year price target of $60.09. Beta for the stock currently stands at -0.06.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ACLX was up-trending over the past week, with a rise of 21.31%, but this was up by 70.66% over a month. Three-month performance surged to 57.20% while six-month performance rose 33.33%. The stock gained 173.59% in the past year, while it has gained 78.21% so far this year. A look at the trailing 12-month EPS for ACLX yields -2.78 with Next year EPS estimates of -2.16. For the next quarter, that number is -0.63. This implies an EPS growth rate of 53.14% for this year and 11.34% for next year.
Float and Shares Shorts:
At present, 44.11 million ACLX shares are outstanding with a float of 35.15 million shares on hand for trading. On Oct 30, 2023, short shares totaled 5.92 million, which was 12.25% higher than short shares on Sep 28, 2023. In addition to Mr. Rami Elghandour as the firm’s Chairman of the Board, CEO & President, Ms. Michelle Lim Gilson serves as its Chief Financial Officer.
Through their ownership of 93.17% of ACLX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.13% of ACLX, in contrast to 34.30% held by mutual funds. Shares owned by individuals account for 21.54%. As the largest shareholder in ACLX with 9.36% of the stake, Fidelity Management & Research Co holds 4,524,230 shares worth 4,524,230. A second-largest stockholder of ACLX, Perceptive Advisors LLC, holds 3,965,978 shares, controlling over 8.20% of the firm’s shares. Paradigm BioCapital Advisors LP is the third largest shareholder in ACLX, holding 2,953,122 shares or 6.11% stake. With a 2.86% stake in ACLX, the SPDR S&P Biotech ETF is the largest stakeholder. A total of 1,381,021 shares are owned by the mutual fund manager. The Fidelity Select Port. – Biotechno, which owns about 2.81% of ACLX stock, is the second-largest Mutual Fund holder. It holds 1,359,901 shares valued at 47.94 million. Vanguard Total Stock Market ETF holds 2.42% of the stake in ACLX, owning 1,172,753 shares worth 41.34 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ACLX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ACLX analysts setting a high price target of $70.00 and a low target of $49.00, the average target price over the next 12 months is $60.09. Based on these targets, ACLX could surge 26.79% to reach the target high and fall by -11.25% to reach the target low. Reaching the average price target will result in a growth of 8.84% from current levels.
Summary of Insider Activity:
Insiders traded ACLX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 34 while that of sell transactions has risen to 39 over the past year. The total number of shares bought during that period was 274,645 while 9,898,509 shares were sold.