Arcellx Inc. (NASDAQ:ACLX) shares rose on Wednesday after Gilead Sciences Inc. (NASDAQ:GILD) agreed to acquire the company for $7.8 billion, or $115 per share in cash.
While Gilead's acquisition values Arcellx at an implied $7.8 billion in equity, it includes a $5-per-share contingent value right.
The deal strengthens Gilead's oncology portfolio, centered on anito-cel, a CAR T-cell therapy for multiple myeloma that has delivered promising clinical results. The company said the transaction will accelerate the commercialization of the therapy.
ACLX Bearish Trend Below SMA Indicators
During Wednesday’s pre-market session, the stock was trading 2.5% below its 20-day simple moving average (SMA) and 3.8% below its 100-day SMA, indicating a bearish short-term trend. Shares have increased by 18% over the past 12 months and are currently positioned closer to their 52-week highs than lows.
The RSI is at 50.00, which is considered neutral territory, suggesting neither overbought nor oversold conditions. Meanwhile, MACD is at 0.10, below its signal line at 0.15, indicating bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum.
- Key Resistance: $115.00
- Key Support: $100.00
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $112.47. Recent analyst moves include:
- Stifel: Downgraded to Hold (Lowers Target to $115.00) (Feb. 24)
- Truist Securities: Downgraded to Hold (Lowers Target to $120.00) (Feb. 24)
- Evercore ISI Group: Downgraded to In-Line (Maintains Target to $115.00) (Feb. 24)
ACLX Price Action: Arcellx shares are trading at about $113.82 at last check on Wednesday, according to Benzinga Pro data. Its 52-week high is $114.26 per share.
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