Arcellx Inc’s recent filing unveils that its insider Elghandour Rami unloaded Company’s shares for reported $1.55 million on Apr 01 ’24. In the deal valued at $67.09 per share,23,086 shares were sold. As a result of this transaction, Elghandour Rami now holds 69,253 shares worth roughly $4.19 million.
Then, Heery Christopher sold 5,450 shares, generating $376,648 in total proceeds. Upon selling the shares at $69.11, the CHIEF MEDICAL OFFICER now owns 8,938 shares.
Before that, Heery Christopher sold 41,365 shares. Arcellx Inc shares valued at $2,903,066 were divested by the CHIEF MEDICAL OFFICER at a price of $70.18 per share. As a result of the transaction, Heery Christopher now holds 8,938 shares, worth roughly $0.54 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 fall -0.23% to $60.56. Over the last five days, the stock has lost -5.95%. Arcellx Inc shares have risen nearly 9.12% since the year began. Nevertheless, the stocks have risen 106.83% over the past one year. While a 52-week high of $75.10 was reached on 03/07/24, a 52-week low of $27.76 was recorded on 01/05/24. SMA at 50 days reached $66.16, while 200 days put it at $47.57. A total of 0.47 million shares were traded, compared to the trading of 0.39 million shares in the previous session.
Levels Of Support And Resistance For ACLX Stock
The 24-hour chart illustrates a support level at 59.55, which if violated will result in even more drops to 58.53. On the upside, there is a resistance level at 61.45. A further resistance level may holdings at 62.33. The Relative Strength Index (RSI) on the 14-day chart is 34.81, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.61, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.48%. Stochastics %K at 6.29% indicates the stock is a buying.
How much short interest is there in Arcellx Inc?
A steep rise in short interest was recorded in Arcellx Inc stocks on Mar 15, 2024, growing by 50000.0 shares to a total of 3.61 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 3.56 million shares. There was a rise of 1.39%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.64% of the overall stock float, the days-to-cover ratio (short ratio) rose to 7.67.
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.
