Fintel reports that on May 31, 2024, Piper Sandler initiated coverage of Arcellx (NasdaqGS:ACLX) with a Overweight recommendation.
Analyst Price Forecast Suggests 58.01% Upside
As of May 22, 2024, the average one-year price target for Arcellx is 82.18. The forecasts range from a low of 73.73 to a high of $91.35. The average price target represents an increase of 58.01% from its latest reported closing price of 52.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Arcellx is 1MM, a decrease of 98.95%. The projected annual non-GAAP EPS is -4.26.
What is the Fund Sentiment?
There are 434 funds or institutions reporting positions in Arcellx. This is an increase of 62 owner(s) or 16.67% in the last quarter. Average portfolio weight of all funds dedicated to ACLX is 0.40%, an increase of 16.24%. Total shares owned by institutions increased in the last three months by 2.15% to 50,822K shares. 
The put/call ratio of ACLX is 1.97, indicating a bearish outlook.
What are Other Shareholders Doing?
Perceptive Advisors holds 3,934K shares representing 7.35% ownership of the company. In its prior filing, the firm reported owning 4,545K shares , representing a decrease of 15.54%. The firm decreased its portfolio allocation in ACLX by 15.61% over the last quarter.
Paradigm Biocapital Advisors holds 3,818K shares representing 7.14% ownership of the company. In its prior filing, the firm reported owning 3,659K shares , representing an increase of 4.18%. The firm decreased its portfolio allocation in ACLX by 1.67% over the last quarter.
NEA Management Company holds 3,745K shares representing 7.00% ownership of the company. No change in the last quarter.
Sr One Capital Management holds 2,347K shares representing 4.39% ownership of the company. In its prior filing, the firm reported owning 3,147K shares , representing a decrease of 34.09%. The firm decreased its portfolio allocation in ACLX by 38.87% over the last quarter.
Cormorant Asset Management holds 1,780K shares representing 3.33% ownership of the company. In its prior filing, the firm reported owning 1,700K shares , representing an increase of 4.49%. The firm increased its portfolio allocation in ACLX by 20.52% over the last quarter.
Arcellx Background Information
(This description is provided by the company.)
Arcellx Inc. is a clinical-stage biotechnology company. The Company is focused developing controllable cell therapies for the treatment of patients with cancer and other incurable diseases.
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