Arcellx Inc (ACLX) AI Stock Analysis

• Market Cap: $3.80B
• Dividend Yield: N/A
• Average Volume (3M): 1.31M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.08
• Revenue Growth: -76.96%
• EPS Growth: -425.41%
• Country: US
• Employees: 163
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.99
• Shares Outstanding: 57,822,872
• 10 Day Avg. Volume: 1,115,656
• 30 Day Avg. Volume: 1,307,165
• PEG Ratio: -1.06
• Price to Book (P/B): 9.03
• Price to Sales (P/S): 38.06
• P/FCF Ratio: -42.39
• Enterprise Value/Market Cap: 1.11
• Enterprise Value/Revenue: 118.01
• Enterprise Value/Gross Profit: 5.23K
• Enterprise Value/Ebitda: -20.22
• 1Y Price Target: $112.29
• Price Target Upside: 70.89% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 18
• EPS Forecast (FY): -4.12
• Revenue Forecast (FY): $32.67M

• Rating: 40 Underperform
• Price Target: $70.00 ▲(6.53% Upside)

The overall stock score for Arcellx Inc is primarily influenced by its weak financial performance, characterized by significant losses and declining revenues. Technical analysis also indicates a bearish trend, with the stock trading below key moving averages. Valuation concerns are heightened by a negative P/E ratio and lack of dividend yield. While the promising Phase 2 study results are a positive development, they do not offset the current financial and technical challenges.

Positive Factors

Promising Phase 2 Study Results

The strong efficacy and safety profile of anito-cel in the Phase 2 study positions it as a potential leader in multiple myeloma treatment, enhancing Arcellx's market position and revenue prospects upon commercial launch.

Strategic Partnership with Kite

The partnership with Kite provides Arcellx access to broader distribution networks and resources, enhancing its commercialization potential and strategic positioning in the oncology market.

Low Leverage

Low leverage indicates financial stability and flexibility, allowing Arcellx to invest in R&D and strategic initiatives without significant debt-related constraints.

Negative Factors

Declining Revenue Growth

The significant decline in revenue growth indicates challenges in product adoption or market penetration, which could hinder long-term financial sustainability and growth.

Negative Profit Margins

Persistent negative profit margins highlight operational inefficiencies and the need for Arcellx to improve cost management and achieve profitability for long-term viability.

Negative Cash Flow

Negative cash flow indicates that Arcellx is not generating sufficient cash from operations, which could limit its ability to fund R&D and other strategic initiatives without external financing.

Arcellx Inc Business Overview & Revenue Model

Company Description

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 1 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 other AML/MDS product candidates, as well as solid tumor programs. 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.

How the Company Makes Money

Arcellx generates revenue primarily through the development and commercialization of its therapeutic products. The company may earn revenue from product sales once its therapies receive regulatory approval and are launched in the market. Additionally, Arcellx can benefit from strategic partnerships and collaborations with larger pharmaceutical companies, which may include upfront payments, milestone payments, and royalties on sales. These partnerships not only provide funding for ongoing research and development but also facilitate access to broader distribution networks and resources. Furthermore, grants and funding from governmental or non-profit organizations focused on cancer research may also contribute to the company's financial resources.

Arcellx Inc Financial Statement Overview

Summary

Arcellx Inc is facing significant financial challenges, with persistent losses and declining revenues. The company has a stable balance sheet with low leverage but struggles with profitability and cash flow generation. While there are some positive signs in cash flow management, the overall financial health is concerning, and the company needs to address its operational inefficiencies and improve revenue growth to achieve sustainable profitability.

Income Statement

Arcellx Inc's income statement shows significant challenges with negative net profit margins and declining revenue growth. The TTM data indicates a net profit margin of -329.93%, reflecting substantial losses. Revenue has decreased by 37% compared to the previous period, indicating a contraction in sales. The EBIT and EBITDA margins are also negative, highlighting operational inefficiencies. Overall, the company is struggling to achieve profitability and growth in its current state.

Balance Sheet

The balance sheet of Arcellx Inc reveals a relatively low debt-to-equity ratio of 0.13, suggesting manageable leverage. However, the return on equity is negative at -43.04%, indicating that the company is not generating returns for its shareholders. The equity ratio stands at 67.20%, showing a strong equity base relative to total assets. While the company maintains a stable capital structure, the lack of profitability is a concern.

Cash Flow

The cash flow statement highlights a challenging situation with negative operating and free cash flows. The free cash flow growth rate is positive at 63.23%, but this is due to a reduction in negative cash flow rather than actual growth. The operating cash flow to net income ratio is -0.97, indicating that the company is not generating sufficient cash from operations to cover its losses. The free cash flow to net income ratio is slightly positive at 1.04, suggesting some efficiency in managing cash relative to net income.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	35.90M	107.94M	110.32M	0.00	0.00	0.00
Gross Profit	810.00K	102.75M	110.32M	-2.22M	0.00	0.00
EBITDA	-209.52M	-99.06M	-64.14M	-184.74M	-63.92M	-31.47M
Net Income	-217.90M	-107.35M	-70.69M	-188.68M	-64.97M	-32.09M
Balance Sheet
Total Assets	655.92M	711.33M	825.13M	313.82M	128.78M	57.69M
Cash, Cash Equivalents and Short-Term Investments	461.38M	587.58M	702.02M	254.84M	104.62M	46.60M
Total Debt	51.79M	54.08M	97.63M	88.13M	0.00	0.00
Total Liabilities	215.14M	256.54M	339.75M	108.86M	250.30M	7.15M
Stockholders Equity	440.78M	454.79M	485.38M	204.95M	-121.52M	50.54M
Cash Flow
Free Cash Flow	-201.18M	-96.90M	186.15M	-101.58M	-60.02M	-29.55M
Operating Cash Flow	-198.11M	-83.47M	207.57M	-99.30M	-54.24M	-28.66M
Investing Cash Flow	24.38M	-183.04M	-154.51M	-117.67M	-79.98M	-888.00K
Financing Cash Flow	90.88M	-24.09M	279.16M	252.63M	118.45M	41.66M

Arcellx Inc Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 65.71
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ACLX, the sentiment is Negative. The current price of 65.71 is below the 20-day moving average (MA) of 68.70, below the 50-day MA of 79.27, and below the 200-day MA of 71.47, indicating a bearish trend. The MACD of -4.11 indicates Negative momentum. The RSI at 35.80 is Neutral, neither overbought nor oversold. The STOCH value of 22.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ACLX.

Arcellx Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PTGX	68 Neutral	$5.55B	140.16	7.80%	―	-35.39%	-72.97%
BEAM	58 Neutral	$2.84B	-6.31	-47.19%	―	-84.07%	-157.71%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
APLS	50 Neutral	$3.16B	84.10	14.10%	―	42.11%	―
IMVT	45 Neutral	$5.27B	-9.25	-95.93%	―	―	-27.70%
MLTX	41 Neutral	$987.10M	-4.16	-54.17%	―	―	-157.74%
ACLX	40 Underperform	$3.80B	-16.77	-47.18%	―	-76.96%	-425.41%

Arcellx Inc Corporate Events

Arcellx Reports Promising Phase 2 Study Results

On December 6, 2025, Arcellx, Inc. announced positive results from its Phase 2 iMMagine-1 study of anitocabtagene autoleucel (anito-cel) for relapsed or refractory multiple myeloma, showing a 96% overall response rate and 74% complete response rate. The data, presented at the 67th American Society of Hematology Annual Meeting, indicate deep and durable responses with a manageable safety profile, positioning anito-cel as a potential category leader in multiple myeloma treatment, with plans for a 2026 commercial launch.