A correction may be in store for Arcellx Inc. (NASDAQ:ACLX) shares?

In the latest session, Arcellx Inc. (NASDAQ: ACLX) closed at $32.27 down -2.24% from its previous closing price of $33.01. In other words, the price has decreased by -$0.74 from its previous closing price. On the day, 623749 shares were traded. ACLX stock price reached its highest trading level at $33.89 during the session, while it also had its lowest trading level at $32.23.

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Ratios:

For a deeper understanding of Arcellx Inc.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 6.50 and its Current Ratio is at 6.50. In the meantime, Its Debt-to-Equity ratio is 0.23 whereas as Long-Term Debt/Eq ratio is at 0.11.

Upgrades & Downgrades

On October 31, 2022, Guggenheim started tracking the stock assigning a Buy rating and target price of $36.

On October 27, 2022, Needham started tracking the stock assigning a Buy rating and target price of $31.Needham initiated its Buy rating on October 27, 2022, with a $31 target price.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Jan 03 when Heery Christopher sold 2,500 shares for $31.11 per share. The transaction valued at 77,775 led to the insider holds 0 shares of the business.

SANDELL SCOTT D sold 390 shares of ACLX for $12,353 on Dec 23. The 10% Owner now owns 0 shares after completing the transaction at $31.67 per share. On Dec 22, another insider, BASKETT FOREST, who serves as the 10% Owner of the company, sold 1,628 shares for $31.45 each. As a result, the insider received 51,207 and left with 0 shares of the company.

Stock Price History:

Over the past 52 weeks, ACLX has reached a high of $34.68, while it has fallen to a 52-week low of $6.03. The 50-Day Moving Average of the stock is 26.88, while the 200-Day Moving Average is calculated to be 19.37.

Shares Statistics:

For the past three months, ACLX has traded an average of 638.89K shares per day and 436.58k over the past ten days. A total of 43.82M shares are outstanding, with a floating share count of 39.95M. Insiders hold about 8.90% of the company’s shares, while institutions hold 96.00% stake in the company. Shares short for ACLX as of Oct 13, 2022 were 2.92M with a Short Ratio of 2.39M, compared to 1.32M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 6.67% and a Short% of Float of 11.34%.

Earnings Estimates

There are 5 different market analysts currently analyzing its stock. The consensus estimate for the next quarter is -$0.89, with high estimates of -$0.76 and low estimates of -$1.08.

Analysts are recommending an EPS of between -$4.04 and -$4.31 for the fiscal current year, implying an average EPS of -$4.17. EPS for the following year is -$3.56, with 5 analysts recommending between -$2.88 and -$4.49.