The stock of Arcellx Inc. (NASDAQ:ACLX) increased by $2.0 on Tuesday to $35.68, up 5.93 percent. The last five days have seen an average of 423,571 shares of common stock traded. 15 times new highs were reached in the current year, with a gain of $5.19. The average number of shares traded over the last 20 days was 406,303, while the average volume over the last 50 days totaled 578,451.
ACLX stock appreciated 4.47% since last month. On 08/14/23, the company’s shares reached a one-month low of $32.62. The stock touched a high of $48.92 on 05/11/23, after rallying from a low of $15.63 in 52 weeks. The price of ACLX stock has risen by 15.16% or $5.19 this year, reaching a new high 15 times. Still, the stock price is down -27.06% from the 52-week high.
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Insider Transactions
ACLX stock investors should be aware that Arcellx Inc. (ACLX) stock had its last reported insider trading activity 11 days ago on Aug 04. On Aug 04, Chief Medical Officer Heery Christopher sold 3,000 shares at $35.38 each. This transaction resulted in the insider making $106,133. On Jul 03, Heery Christopher sold 3,000 shares at a price of US$31.75. After the transaction, the insider now owns 7,795 shares. Director Carroll Jill had earlier sold 25,556 shares on Jun 01 for $44.35 a share. The transaction was completed for $1,133,317.
Valuation Metrics
Beta for the stock is -0.64. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 96.57, the price-to-book (PB) ratio of 5.50, and the price-to-cash flow ratio of 15.36.
Financial Health
For the three months ended June 29, Arcellx Inc.’s quick ratio was 3.40, while its current ratio was 3.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.05, and the total debt to equity ratio is 0.17. Based on annual data, it had gross profit of $1.72 million and revenue of $191.26 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ACLX’s return on assets (ROA) during the last 12 months has been -46.10%. In the meantime, the return on equity (ROE) for the last 12 months was -71.10%.
Earnings Surprise
According to Arcellx Inc.’s quarterly financial report for the quarter that ended June 29, it had $258.7 million in cash and short-term investments. Net income for the quarter came in at $17.91 million, while revenues rose by 100.0% to $0.0. It was predicted that Arcellx Inc.’s quarterly earnings would be -$0.5, but it ended up being -$0.31, beating the consensus by -61.30%. EBITDA was -$32.0 million for the quarter. At the end of Arcellx Inc.’s most recent quarter ended June 29, its liabilities totaled 319.23 million, while its total debt was $87.65 million. Equity owned by shareholders amounts to $47.99 million.
Technical Picture
Here’s a quick look at Arcellx Inc.’s (ACLX) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 69.07%, suggesting the stock is Neutral, with a 42.94% historical volatility rate.
The stochastic %K and %D were 42.86% and 38.02% respectively, while the average true range (ATR) was 1.64. Based on the 14-day stochastic reading of 70.86%, the RSI (14) reading is 62.11%. On the 9-day MACD Oscillator, the stock is at 0.05, and the 14-day reading is at 0.28.
Analyst Ratings
In its analyst report released on May 18, 2023, Truist began covering Arcellx Inc. (NASDAQ: ACLX). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Arcellx Inc. (ACLX) an Buy rating. ACLX is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 8 others recommend it as a buy.
What is ACLX’s price target for the next 12 months?
The current consensus forecast for the stock is between $49.00 and $58.00, with a median target price of $51.00. In analyzing these forecasts, the average price target given by analysts for Arcellx Inc. (ACLX) is $52.00.
