Federated Hermes Inc. Decreases Holdings in Arcellx, Inc. (NASDAQ:ACLX)

Federated Hermes Inc. lowered its stake in shares of Arcellx, Inc. (NASDAQ:ACLX) by 97.5% in the second quarter, Holdings Channel reports. The firm owned 5,733 shares of the company’s stock after selling 225,928 shares during the period. Federated Hermes Inc.’s holdings in Arcellx were worth $316,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ACLX. Perceptive Advisors LLC lifted its holdings in Arcellx by 14.6% in the 4th quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock valued at $252,237,000 after purchasing an additional 578,831 shares in the last quarter. Bamco Inc. NY lifted its stake in shares of Arcellx by 292.1% in the first quarter. Bamco Inc. NY now owns 248,993 shares of the company’s stock worth $17,317,000 after buying an additional 185,493 shares in the last quarter. Vanguard Group Inc. boosted its position in Arcellx by 8.1% during the first quarter. Vanguard Group Inc. now owns 2,228,856 shares of the company’s stock worth $155,017,000 after acquiring an additional 167,037 shares during the last quarter. PFM Health Sciences LP grew its stake in Arcellx by 39.5% during the 4th quarter. PFM Health Sciences LP now owns 335,198 shares of the company’s stock valued at $18,603,000 after acquiring an additional 94,860 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Arcellx by 6.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock valued at $93,514,000 after acquiring an additional 84,373 shares during the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ACLX. Truist Financial restated a “buy” rating and issued a $87.00 price target on shares of Arcellx in a research report on Tuesday, June 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Arcellx in a research note on Monday, September 9th. Piper Sandler started coverage on shares of Arcellx in a research report on Friday, May 31st. They set an “overweight” rating and a $70.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $85.00 price objective on shares of Arcellx in a report on Monday, July 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $81.00 target price on shares of Arcellx in a research note on Friday, August 9th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $78.00.

Arcellx Trading Down 1.8 %

Shares of NASDAQ ACLX opened at $84.44 on Wednesday. The stock has a market capitalization of $4.52 billion, a PE ratio of -81.98 and a beta of 0.23. Arcellx, Inc. has a twelve month low of $30.88 and a twelve month high of $88.66. The stock has a fifty day simple moving average of $67.17 and a 200-day simple moving average of $60.81.

Arcellx (NASDAQ:ACLX) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.01. Arcellx had a negative net margin of 37.23% and a negative return on equity of 12.42%. The company had revenue of $27.38 million for the quarter, compared to analyst estimates of $22.04 million. Arcellx’s revenue for the quarter was up 91.5% compared to the same quarter last year. On average, equities analysts predict that Arcellx, Inc. will post -1.65 earnings per share for the current year.

Insiders Place Their Bets

In other Arcellx news, CFO Michelle Gilson sold 15,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the transaction, the chief financial officer now owns 6,915 shares in the company, valued at $537,502.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Michelle Gilson sold 15,000 shares of Arcellx stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total value of $1,165,950.00. Following the completion of the transaction, the chief financial officer now owns 6,915 shares in the company, valued at approximately $537,502.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavita Patel sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $74.41, for a total transaction of $111,615.00. The disclosure for this sale can be found here. Insiders have sold a total of 116,628 shares of company stock worth $7,659,842 in the last ninety days. 6.24% of the stock is owned by corporate insiders.

Arcellx Profile

Arcellx, Inc, together with its subsidiary, engages in the development of various immunotherapies for patients with cancer and other incurable diseases in the United States. The company's lead ddCAR product candidate is anitocabtagene autoleucel, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory multiple myeloma (rrMM).