Fintel reports that on May 9, 2023, Barclays maintained coverage of Arcellx (NASDAQ:ACLX) with a Overweight recommendation.

Analyst Price Forecast Suggests 5.88% Downside

As of April 24, 2023, the average one-year price target for Arcellx is 40.69. The forecasts range from a low of 35.35 to a high of $47.25. The average price target represents a decrease of 5.88% from its latest reported closing price of 43.23.

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The projected annual revenue for Arcellx is 0MM, a decrease of 100.00%. The projected annual non-GAAP EPS is -4.11.

What is the Fund Sentiment?

There are 262 funds or institutions reporting positions in Arcellx. This is an increase of 67 owner(s) or 34.36% in the last quarter. Average portfolio weight of all funds dedicated to ACLX is 0.69%, a decrease of 14.02%. Total shares owned by institutions increased in the last three months by 5.23% to 45,448K shares. The put/call ratio of ACLX is 0.21, indicating a bullish outlook.

What are Other Shareholders Doing?

Sr One Capital Management holds 5,500K shares representing 11.49% ownership of the company. No change in the last quarter.

NEA Management Company holds 4,745K shares representing 9.92% ownership of the company. In it's prior filing, the firm reported owning 6,750K shares, representing a decrease of 42.25%. The firm increased its portfolio allocation in ACLX by 30.63% over the last quarter.

Perceptive Advisors holds 2,598K shares representing 5.43% ownership of the company. In it's prior filing, the firm reported owning 2,465K shares, representing an increase of 5.11%. The firm increased its portfolio allocation in ACLX by 68.30% over the last quarter.

Suvretta Capital Management holds 2,350K shares representing 4.91% ownership of the company. In it's prior filing, the firm reported owning 2,250K shares, representing an increase of 4.29%. The firm increased its portfolio allocation in ACLX by 74.42% over the last quarter.

Cormorant Asset Management holds 2,075K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 3,049K shares, representing a decrease of 46.95%. The firm increased its portfolio allocation in ACLX by 7.53% 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.