Federated Hermes Inc. Acquires 143,212 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Federated Hermes Inc. grew its position in Arcellx, Inc. (NASDAQ:ACLX) by 200.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 214,599 shares of the company’s stock after buying an additional 143,212 shares during the period. Federated Hermes Inc. owned 0.44% of Arcellx worth $11,910,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. HealthInvest Partners AB bought a new stake in shares of Arcellx in the 4th quarter valued at about $633,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Arcellx by 36.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,405 shares of the company’s stock valued at $355,000 after buying an additional 1,701 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Arcellx by 87.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 30,000 shares of the company’s stock valued at $1,706,000 after buying an additional 14,000 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Arcellx by 351.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 5,632 shares of the company’s stock valued at $313,000 after buying an additional 4,384 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Arcellx by 68.7% in the 4th quarter. SG Americas Securities LLC now owns 28,785 shares of the company’s stock valued at $1,598,000 after buying an additional 11,718 shares in the last quarter. 96.03% of the stock is currently owned by institutional investors.

Insider Transactions at Arcellx

In other news, insider Christopher Heery sold 2,967 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $64.46, for a total transaction of $191,252.82. Following the sale, the insider now owns 30,303 shares of the company’s stock, valued at approximately $1,953,331.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Christopher Heery sold 2,967 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $64.46, for a total transaction of $191,252.82. Following the sale, the insider now owns 30,303 shares of the company’s stock, valued at approximately $1,953,331.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Olivia C. Ware sold 9,402 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $55.55, for a total transaction of $522,281.10. The disclosure for this sale can be found here. Insiders have sold 605,814 shares of company stock valued at $42,439,893 in the last 90 days. 6.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

ACLX has been the topic of a number of recent analyst reports. Scotiabank restated an “outperform” rating and issued a $82.00 price target on shares of Arcellx in a report on Thursday, April 4th. Barclays increased their price objective on shares of Arcellx from $62.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. HC Wainwright increased their price objective on shares of Arcellx from $60.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Robert W. Baird increased their price objective on shares of Arcellx from $63.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Truist Financial increased their price objective on shares of Arcellx from $57.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $74.17.

Arcellx Trading Up 4.7 %

ACLX opened at $54.44 on Wednesday. Arcellx, Inc. has a 12-month low of $30.74 and a 12-month high of $75.10. The firm has a market capitalization of $2.90 billion, a PE ratio of -37.03 and a beta of 0.02. The firm has a 50 day moving average of $64.71 and a two-hundred day moving average of $55.37.

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

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).