Arcellx, Inc. $ACLX Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its position in Arcellx, Inc. (NASDAQ:ACLX) by 97.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Decheng Capital LLC lifted its stake in Arcellx by 995.2% during the second quarter. Decheng Capital LLC now owns 547,609 shares of the company’s stock worth $36,060,000 after purchasing an additional 497,609 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Arcellx by 694.3% during the second quarter. American Century Companies Inc. now owns 431,466 shares of the company’s stock worth $28,412,000 after purchasing an additional 377,145 shares during the period. Vestal Point Capital LP lifted its position in shares of Arcellx by 15.2% in the 2nd quarter. Vestal Point Capital LP now owns 2,750,000 shares of the company’s stock worth $181,088,000 after buying an additional 362,280 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings 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 buying an additional 293,387 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Arcellx by 60.3% in the 2nd quarter. Bank of America Corp DE now owns 262,355 shares of the company’s stock valued at $17,276,000 after buying an additional 98,685 shares during the period. 96.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Arcellx news, insider Christopher Heery sold 5,882 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $68.51, for a total transaction of $402,975.82. Following the completion of the transaction, the insider owned 23,749 shares in the company, valued at approximately $1,627,043.99. The trade was a 19.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 19,790 shares of company stock worth $1,314,077. 8.35% of the stock is owned by insiders.

Arcellx Trading Down 2.3%

ACLX opened at $67.24 on Wednesday. The business’s 50 day moving average is $67.52 and its 200-day moving average is $74.94. The stock has a market cap of $3.89 billion, a PE ratio of -17.11 and a beta of 0.36. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $94.07.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ACLX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Arcellx in a research note on Wednesday, January 21st. Guggenheim reaffirmed a “buy” rating on shares of Arcellx in a report on Monday, November 24th. HC Wainwright reissued a “buy” rating and issued a $115.00 price target on shares of Arcellx in a report on Wednesday, February 4th. Needham & Company LLC restated a “buy” rating and set a $105.00 price objective on shares of Arcellx in a research note on Thursday, February 5th. Finally, 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. Nine investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Arcellx has a consensus rating of “Moderate Buy” and an average target price of $112.22.

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.