The Chart of the Day belongs to the immunotherapy company Arcellx (ACLX)  .  I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart  feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 11 / 3 the stock gained 29.71%.

ACLX Price vs Daily Moving Averages

Arcellx, Inc., a clinical-stage biotechnology company, engages in the development of various immunotherapies for patients with cancer and other incurable diseases. The company’s lead ddCAR product candidate is CART-ddBCMA, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory (r/r) multiple myeloma (MM). It is also developing ACLX-001, an immunotherapeutic combination composed of ARC-T cells and bi-valent SparX proteins targeting BCMA to treat r/r MM; ACLX-002 and ACLX-003 for treating r/r acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS); and product candidates for solid tumor programs. It has strategic alliance with Kite Pharma, Inc. to co-develop and co-commercialize CART-ddBCMA. The company was formerly known as Encarta Therapeutics, Inc. and changed its name to Arcellx, Inc. in January 2016. Arcellx, Inc. was incorporated in 2014 and is headquartered in Gaithersburg, Maryland.

Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

  • 100% technical buy signals
  • 73.52+ Weighted Alpha
  • 186.30% gain in the last year
  • Trend Seeker buy signal
  • Above its 20, 50 and 100 day moving averages
  • 6 new highs and up 21.26% in the last month
  • Relative Strength Index 73.88%
  • Technical support level at $55.70
  • Recently traded at $57.89 with 50 day moving average of $42.37

Fundamental Factors:

  • Market Cap $2.71 billion
  • Revenue expected to grow another 46.20% next year
  • Earning estimated to increase 51.60% this year, an additional 11.60% next year and continue to compound at an annual rate of 69.30% for the next 5 years

Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:

  • Wall Street analyst gave 12 strong buy and 1 buy opinion on the stock
  • Analysts’ price targets are between $49 and $70 with a consensus of $60
  • Value Line gives it the above average rating of 2 
  • CFRAs MarketScope rates it a strong buy
  • 822 investors monitor the stock on Seeking Alpha

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.

On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Source: Nasdaq

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