Federated Hermes Inc. Sells 225,928 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Federated Hermes Inc. decreased its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 97.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,733 shares of the company’s stock after selling 225,928 shares during the quarter. Federated Hermes Inc.’s holdings in Arcellx were worth $316,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Perceptive Advisors LLC raised its stake in Arcellx by 14.6% in the fourth quarter. Perceptive Advisors LLC now owns 4,544,809 shares of the company’s stock worth $252,237,000 after buying an additional 578,831 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Arcellx by 8.1% in the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Arcellx by 6.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,344,553 shares of the company’s stock worth $93,514,000 after purchasing an additional 84,373 shares during the last quarter. PFM Health Sciences LP boosted its position in Arcellx by 39.5% during the fourth quarter. PFM Health Sciences LP now owns 335,198 shares of the company’s stock valued at $18,603,000 after purchasing an additional 94,860 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Arcellx by 20.4% in the second quarter. Victory Capital Management Inc. now owns 283,872 shares of the company’s stock valued at $15,667,000 after purchasing an additional 48,006 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Arcellx Trading Down 1.8 %

Shares of NASDAQ:ACLX opened at $84.44 on Wednesday. Arcellx, Inc. has a twelve month low of $30.88 and a twelve month high of $88.66. The company has a market cap of $4.52 billion, a PE ratio of -81.98 and a beta of 0.23. The company’s 50 day moving average is $67.17 and its 200 day moving average is $60.81.

Arcellx (NASDAQ:ACLX) last issued its earnings results on Thursday, August 8th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $27.38 million during the quarter, compared to analysts’ expectations of $22.04 million. The business’s revenue for the quarter was up 91.5% on a year-over-year basis. Equities research analysts predict that Arcellx, Inc. will post -1.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at Arcellx

In related news, Director Kavita Patel sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $54.27, for a total transaction of $542,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Kavita Patel sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $54.27, for a total transaction of $542,700.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Michelle Gilson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the transaction, the chief financial officer now owns 6,915 shares of the company’s stock, valued at approximately $537,502.95. The disclosure for this sale can be found here. Insiders have sold 116,628 shares of company stock worth $7,659,842 over the last quarter. 6.24% of the stock is currently owned by insiders.

Arcellx Company 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).