Federated Hermes Inc. Cuts Position in Arcellx, Inc. $ACLX

Federated Hermes Inc. lowered its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 97.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 564 shares of the company’s stock after selling 26,371 shares during the quarter. Federated Hermes Inc.’s holdings in Arcellx were worth $46,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vestal Point Capital LP lifted its position in Arcellx by 15.2% during the second quarter. Vestal Point Capital LP now owns 2,750,000 shares of the company’s stock valued at $181,088,000 after buying an additional 362,280 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Arcellx by 42.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 976,968 shares of the company’s stock valued at $64,333,000 after acquiring an additional 293,387 shares during the period. Decheng Capital LLC lifted its holdings in shares of Arcellx by 995.2% during the 2nd quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock valued at $36,060,000 after acquiring an additional 497,609 shares in the last quarter. Bamco Inc. NY boosted its position in Arcellx by 10.9% during the 2nd quarter. Bamco Inc. NY now owns 518,009 shares of the company’s stock worth $34,111,000 after purchasing an additional 50,748 shares during the period. Finally, American Century Companies Inc. increased its holdings in Arcellx by 694.3% in the 2nd quarter. American Century Companies Inc. now owns 431,466 shares of the company’s stock valued at $28,412,000 after purchasing an additional 377,145 shares in the last quarter. Institutional investors and hedge funds own 96.03% of the company’s stock.

Arcellx Stock Down 2.3%

Shares of ACLX opened at $67.24 on Wednesday. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -17.11 and a beta of 0.36. The business’s 50 day moving average is $67.52 and its two-hundred day moving average is $74.94. Arcellx, Inc. has a 52-week low of $47.86 and a 52-week high of $94.07.

Analysts Set New Price Targets

A number of research analysts have commented on ACLX shares. Stifel Nicolaus set a $129.00 price objective on Arcellx and gave the stock a “buy” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Arcellx in a research report on Wednesday, January 21st. Canaccord Genuity Group restated a “buy” rating and issued a $130.00 price target on shares of Arcellx in a report on Monday, December 8th. Wells Fargo & Company began coverage on shares of Arcellx in a research note on Monday, December 22nd. They set an “overweight” rating and a $100.00 price objective on the stock. Finally, UBS Group started coverage on shares of Arcellx in a research report on Wednesday, January 7th. They set a “buy” rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Arcellx presently has an average rating of “Moderate Buy” and a consensus price target of $112.22.

Insiders Place Their Bets

In other news, insider Christopher Heery sold 7,437 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $65.51, for a total value of $487,197.87. Following the completion of the sale, the insider owned 29,631 shares of the company’s stock, valued at approximately $1,941,126.81. The trade was a 20.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 19,790 shares of company stock worth $1,314,077. 8.35% of the stock is owned by company insiders.

Arcellx Company Profile

Arcellx, Inc (NASDAQ: ACLX) is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of next-generation cell therapies for oncology and autoimmune diseases. The company’s proprietary ARC-SparX™ platform is designed to enable precise control over cell-surface receptor activation and to improve the safety, efficacy and durability of adoptive cell therapies. Leveraging this technology, Arcellx engineers immune cells with modular antigen-binding domains that can be exchanged to target a variety of disease-associated markers.

The company’s pipeline comprises multiple wholly owned programs in hematologic malignancies and solid tumors at various stages of preclinical and clinical development.