Arcellx Inc (NASDAQ:ACLX) price on Wednesday, May 21, rose 8.26% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $65.54.
A look at the stock’s price movement, the close in the last trading session was $60.54. Turning to its 52-week performance, $107.37 and $47.86 were the 52-week high and 52-week low respectively. Overall, ACLX moved 3.83% over the past month.
Arcellx Inc’s market cap currently stands at around $3.61 billion, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 12.87M for the company’s revenue for the quarter, with a low and high estimate of 4M and 30M respectively. The average forecast suggests down to a -53.00% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 62.53M, representing a -42.07% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ACLX is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 6 recommend ACLX as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ACLX’s current price about 7.82% and 3.39% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.62, while 7-day volatility ratio is 7.42% and 8.34% in the 30-day chart. Further, Arcellx Inc (ACLX) has a beta value of 0.25, and an average true range (ATR) of 4.87. Analysts have given the company’s stock an average 52-week price target of $95, forecast between a low of $32 and high of $122. Looking at the price targets, the low is 51.17% off current price level while to achieve the yearly target high, price needs to move -86.15%. Nonetheless, investors will most likely welcome a -44.95% jump to $95 which is the analysts’ median price.
If we refocus on Arcellx Inc (NASDAQ:ACLX), historical trading data shows that trading volumes averaged 752.04K over the past 3 months. The company’s latest data on shares outstanding shows there are 55.07 million shares.
The 28.31% of Arcellx Inc’s shares are in the hands of company insiders while institutional holders own 86.49% of the company’s shares. Current price change has pushed the stock -14.54% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ACLX stock continues to rise going into the next quarter.
