Federated Hermes Inc. Has $3.03 Million Stake in Arcellx, Inc. (NASDAQ:ACLX)

Federated Hermes Inc. lowered its holdings in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 70.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 46,224 shares of the company's stock after selling 109,870 shares during the quarter. Federated Hermes Inc. owned about 0.08% of Arcellx worth $3,032,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Arcellx by 104.1% in the 1st quarter. GAMMA Investing LLC now owns 494 shares of the company's stock valued at $32,000 after purchasing an additional 252 shares during the last quarter. Headlands Technologies LLC purchased a new position in Arcellx in the fourth quarter valued at about $41,000. GF Fund Management CO. LTD. purchased a new stake in shares of Arcellx during the 4th quarter worth approximately $87,000. Amalgamated Bank boosted its position in shares of Arcellx by 12.0% in the 1st quarter. Amalgamated Bank now owns 1,508 shares of the company's stock worth $99,000 after buying an additional 161 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in Arcellx in the 4th quarter valued at approximately $214,000. Institutional investors and hedge funds own 96.03% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. HC Wainwright reaffirmed a "buy" rating and set a $115.00 price objective on shares of Arcellx in a research note on Monday, June 16th. Cantor Fitzgerald raised shares of Arcellx to a "strong-buy" rating in a research report on Monday. Citigroup started coverage on Arcellx in a research note on Tuesday, June 17th. They set a "buy" rating and a $110.00 target price for the company. Finally, Scotiabank boosted their price objective on Arcellx from $93.00 to $133.00 and gave the company a "sector outperform" rating in a report on Thursday, July 31st. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Arcellx presently has a consensus rating of "Buy" and a consensus price target of $114.31.

Arcellx Stock Performance

NASDAQ:ACLX traded up $2.44 on Friday, reaching $73.59. The company's stock had a trading volume of 368,892 shares, compared to its average volume of 658,457. The business's 50-day moving average price is $67.38 and its two-hundred day moving average price is $65.18. Arcellx, Inc. has a 1-year low of $47.86 and a 1-year high of $107.37. The firm has a market cap of $4.06 billion, a PE ratio of -24.55 and a beta of 0.28.

Arcellx (NASDAQ:ACLX - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.94) EPS for the quarter, topping analysts' consensus estimates of ($1.03) by $0.09. The business had revenue of $7.55 million for the quarter, compared to analyst estimates of $16.76 million. Arcellx had a negative net margin of 211.46% and a negative return on equity of 35.27%. As a group, sell-side analysts expect that Arcellx, Inc. will post -1.58 EPS for the current year.

Insider Activity

In other news, Director Kavita Patel sold 1,500 shares of the company's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $67.36, for a total transaction of $101,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.35% of the stock is owned by corporate 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).