ArcellxNASDAQ: ACLX

Does Arcellx, Inc. (ACLX) have what it takes to be a top stock pick for momentum investors? Let's find out.

Here is how Arcellx, Inc. (ACLX) and AbbVie (ABBV) have performed compared to their sector so far this year.

Arcellx, Inc. (ACLX) came out with a quarterly loss of $0.48 per share versus the Zacks Consensus Estimate of a loss of $0.54. This compares to loss of $0.81 per share a year ago.

Arcellx (ACLX) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Arcellx leverages proprietary platforms like D-Domain, ddCAR, and ARC-SparX to enhance immune response, targeting multiple myeloma, AML, MDS, and solid tumors. ACLX's lead therapy, anito-cel, shows strong clinical results in relapsed/refractory multiple myeloma, even for high-risk patients. Arcellx's strategic partnership with Kite Pharma validates its technology, potentially leading to milestone payments of up to $935 million.

Arcellx, Inc. (ACLX) came out with a quarterly loss of $0.51 per share versus the Zacks Consensus Estimate of a loss of $0.54. This compares to loss of $0.50 per share a year ago.

The biotech industry has fallen on hard times over the last few years, no thanks to venture capital drying up, tighter regulatory conditions and the harsh reality of the post-pandemic healthcare environment. As a result, biotech breakthrough stocks fell out of favor with investors and were among the worst performers in the stock market.

Arcellx (ACLX) has seen solid earnings estimate revision activity over the past month, and belongs to a strong industry as well.

Arcellx, Inc. (ACLX) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of a loss of $0.63 per share. This compares to loss of $0.76 per share a year ago.