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Arcellx, Inc. (ACLX) Reports Q3 Loss, Lags Revenue Estimates
ACLXArcellx(ACLX) ZACKS·2024-11-07 23:15

Core Insights - Arcellx, Inc. reported a quarterly loss of 0.48pershare,whichwasbetterthantheZacksConsensusEstimateofalossof0.48 per share, which was better than the Zacks Consensus Estimate of a loss of 0.54, and improved from a loss of 0.81pershareayearago,indicatinganearningssurpriseof11.110.81 per share a year ago, indicating an earnings surprise of 11.11% [1] - The company generated revenues of 26.03 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 26.06%, but showing growth from 14.96millioninthesamequarterlastyear[2]−Arcellxshareshaveincreasedapproximately67.514.96 million in the same quarter last year [2] - Arcellx shares have increased approximately 67.5% year-to-date, outperforming the S&P 500's gain of 24.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -0.55 on revenues of 26.63million,andforthecurrentfiscalyear,itis−26.63 million, and for the current fiscal year, it is -1.65 on revenues of 128.46million[7]−TheestimaterevisionstrendforArcellxismixed,resultinginaZacksRank3(Hold),suggestingthestockisexpectedtoperforminlinewiththemarketinthenearfuture[6]IndustryContext−TheMedical−BiomedicalandGeneticsindustry,towhichArcellxbelongs,iscurrentlyrankedinthetop36128.46 million [7] - 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 [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Arcellx belongs, is currently ranked in the top 36% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, Revance Therapeutics, Inc., is expected to report a quarterly loss of 0.35 per share, reflecting a year-over-year change of +52.7%, with revenues projected at $67.73 million, up 19.3% from the previous year [9]