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Arcellx, Inc. (ACLX) Reports Q1 Loss, Tops Revenue Estimates
ACLXArcellx(ACLX) Zacks Investment Research·2024-05-09 22:10

Company Performance - Arcellx, Inc. reported a quarterly loss of 0.14pershare,significantlybetterthantheZacksConsensusEstimateofalossof0.14 per share, significantly better than the Zacks Consensus Estimate of a loss of 0.51, and an improvement from a loss of 0.58pershareayearago,indicatinga72.550.58 per share a year ago, indicating a 72.55% earnings surprise [1] - The company generated revenues of 39.26 million for the quarter ended March 2024, exceeding the Zacks Consensus Estimate by 32.55%, and up from 17.91millioninthesamequarterlastyear[1]−Overthelastfourquarters,ArcellxhassurpassedconsensusEPSestimatesthreetimesandtoppedconsensusrevenueestimatestwotimes[1]MarketOutlook−Arcellxshareshavedeclinedapproximately5.917.91 million in the same quarter last year [1] - Over the last four quarters, Arcellx has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [1] Market Outlook - Arcellx shares have declined approximately 5.9% since the beginning of the year, contrasting with the S&P 500's gain of 8.8% [2] - The company's future stock performance will largely depend on management's commentary during the earnings call and the sustainability of the recent earnings numbers [2][3] Earnings Estimates - The current consensus EPS estimate for the upcoming quarter is -0.40 on revenues of 29.52million,andforthecurrentfiscalyear,itis−29.52 million, and for the current fiscal year, it is -1.69 on revenues of 121.41million[4]−TheestimaterevisionstrendforArcellxismixed,resultinginaZacksRank3(Hold),suggestingthestockisexpectedtoperforminlinewiththemarketinthenearfuture[4]IndustryContext−TheMedical−BiomedicalandGeneticsindustry,towhichArcellxbelongs,iscurrentlyrankedinthetop35121.41 million [4] - The estimate revisions trend for Arcellx is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [4] Industry Context - The Medical - Biomedical and Genetics industry, to which Arcellx belongs, is currently ranked in the top 35% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [5] - Another company in the same industry, Lumos Pharma, is expected to report a quarterly loss of 1.21 per share, reflecting a year-over-year change of -36%, with revenues projected at $0.51 million, down 26.1% from the previous year [5]