Arcellx, Inc. (NASDAQ:ACLX) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. lifted its stake in Arcellx, Inc. (NASDAQ:ACLX) by 200.6% in the 4th quarter, Holdings Channel reports. The firm owned 214,599 shares of the company’s stock after purchasing an additional 143,212 shares during the quarter. Federated Hermes Inc.’s holdings in Arcellx were worth $11,910,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its stake in shares of Arcellx by 98.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,248 shares of the company’s stock valued at $45,000 after purchasing an additional 619 shares during the period. Exchange Traded Concepts LLC raised its position in Arcellx by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 4,241 shares of the company’s stock worth $235,000 after acquiring an additional 1,076 shares during the last quarter. Amalgamated Bank raised its position in Arcellx by 5.6% during the third quarter. Amalgamated Bank now owns 5,772 shares of the company’s stock worth $207,000 after acquiring an additional 308 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Arcellx by 36.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,405 shares of the company’s stock worth $355,000 after acquiring an additional 1,701 shares during the last quarter. Finally, High Net Worth Advisory Group LLC raised its position in Arcellx by 7.7% during the fourth quarter. High Net Worth Advisory Group LLC now owns 7,000 shares of the company’s stock worth $388,000 after acquiring an additional 500 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 equities analysts have issued reports on ACLX shares. Scotiabank restated an “outperform” rating and set a $82.00 target price on shares of Arcellx in a research report on Thursday, April 4th. Stifel Nicolaus restated a “buy” rating and set a $82.00 target price on shares of Arcellx in a research report on Thursday, March 14th. HC Wainwright lifted their target price on shares of Arcellx from $60.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Barclays lifted their target price on shares of Arcellx from $62.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Robert W. Baird lifted their price target on shares of Arcellx from $63.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $74.17.

Arcellx Stock Performance

Arcellx stock opened at $54.44 on Wednesday. Arcellx, Inc. has a 1 year low of $30.74 and a 1 year high of $75.10. The firm has a 50 day moving average price of $64.71 and a 200 day moving average price of $55.37. The company has a market cap of $2.90 billion, a price-to-earnings ratio of -37.03 and a beta of 0.02.

Arcellx (NASDAQ:ACLX) last released its earnings results on Wednesday, February 28th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.95. Arcellx had a negative net margin of 64.08% and a negative return on equity of 20.96%. The firm had revenue of $63.15 million during the quarter, compared to the consensus estimate of $20.07 million. During the same period in the previous year, the firm earned ($0.76) earnings per share. Sell-side analysts predict that Arcellx, Inc. will post -1.69 EPS for the current year.

Insider Activity at Arcellx

In related news, Director Olivia C. Ware sold 9,402 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $55.55, for a total value of $522,281.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Arcellx news, Director Olivia C. Ware sold 9,402 shares of Arcellx stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $55.55, for a total transaction of $522,281.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Rami Elghandour sold 23,086 shares of Arcellx stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $67.09, for a total transaction of $1,548,839.74. Following the transaction, the insider now directly owns 69,253 shares in the company, valued at $4,646,183.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 605,814 shares of company stock worth $42,439,893. 6.24% of the stock is owned by company 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).