Arcellx Inc’s recently made public that its CHIEF MEDICAL OFFICER Heery Christopher unloaded Company’s shares for reported $0.38 million on Mar 26 ’24. In the deal valued at $69.11 per share,5,450 shares were sold. As a result of this transaction, Heery Christopher now holds 8,938 shares worth roughly $0.63 million.
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Then, Heery Christopher sold 41,365 shares, generating $2,903,066 in total proceeds. Upon selling the shares at $70.18, the CHIEF MEDICAL OFFICER now owns 8,938 shares.
Before that, Carroll Jill sold 504,263 shares. Arcellx Inc shares valued at $35,575,755 were divested by the Director at a price of $70.55 per share. As a result of the transaction, Carroll Jill now holds 1,479,148 shares, worth roughly $103.73 million.
Morgan Stanley initiated its Arcellx Inc [ACLX] rating to an Overweight in a research note published on March 07, 2024; the price target was $81. A number of analysts have revised their coverage, including Needham’s analysts, who remained covering the stock and in early January has reiterated a ‘”a Buy”‘ rating for it. Scotiabank began covering ACLX with “Sector outperform” recommendation on December 19, 2023. TD Cowen started covering the stock on October 30, 2023. It rated ACLX as “an Outperform”.
Price Performance Review of ACLX
On Tuesday, Arcellx Inc [NASDAQ:ACLX] saw its stock jump 1.89% to $70.13. Over the last five days, the stock has lost -3.98%. Arcellx Inc shares have risen nearly 26.36% since the year began. Nevertheless, the stocks have risen 139.11% over the past one year. While a 52-week high of $75.10 was reached on 03/07/24, a 52-week low of $27.28 was recorded on 01/05/24. SMA at 50 days reached $64.74, while 200 days put it at $46.32. A total of 0.33 million shares were traded, compared to the trading of 0.48 million shares in the previous session.
Levels Of Support And Resistance For ACLX Stock
The 24-hour chart illustrates a support level at 68.47, which if violated will result in even more drops to 66.80. On the upside, there is a resistance level at 71.11. A further resistance level may holdings at 72.08. The Relative Strength Index (RSI) on the 14-day chart is 54.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.83, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 61.74%. Stochastics %K at 33.29% indicates the stock is a holding.
How much short interest is there in Arcellx Inc?
A steep rise in short interest was recorded in Arcellx Inc stocks on Feb 29, 2024, dropping by -0.54 million shares to a total of 3.43 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 3.97 million shares. There was a decline of -15.74%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 7.27% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.95.
The most recent change occurred on October 17, 2023 when UBS began covering the stock and recommended ‘”a Buy”‘ rating along with a $52 price target.
