Deutsche Bank AG Has $26.42 Million Stock Position in Arcellx, Inc. (NASDAQ:ACLX)

Deutsche Bank AG trimmed its position in Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 344,529 shares of the company's stock after selling 121,161 shares during the quarter. Deutsche Bank AG owned approximately 0.64% of Arcellx worth $26,422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of Arcellx in the 4th quarter valued at about $41,000. KBC Group NV raised its holdings in Arcellx by 37.3% in the 4th quarter. KBC Group NV now owns 1,388 shares of the company's stock valued at $106,000 after acquiring an additional 377 shares during the period. Avanza Fonder AB bought a new position in Arcellx in the 4th quarter valued at about $184,000. Kazazian Asset Management LLC bought a new position in Arcellx in the 4th quarter valued at about $204,000. Finally, Landscape Capital Management L.L.C. bought a new position in Arcellx in the 4th quarter valued at about $214,000. 96.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Christopher Heery sold 10,155 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $63.79, for a total transaction of $647,787.45. Following the sale, the insider now owns 37,486 shares in the company, valued at approximately $2,391,231.94. This trade represents a 21.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rami Elghandour sold 38,300 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $62.02, for a total transaction of $2,375,366.00. Following the sale, the insider now owns 149,186 shares in the company, valued at $9,252,515.72. This represents a 20.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,455 shares of company stock worth $3,407,903. Corporate insiders own 6.24% of the company's stock.

Arcellx Trading Up 0.6%

Shares of NASDAQ:ACLX traded up $0.33 on Friday, reaching $58.78. 626,744 shares of the company's stock were exchanged, compared to its average volume of 586,215. The company has a fifty day moving average of $63.20 and a 200-day moving average of $71.75. Arcellx, Inc. has a twelve month low of $47.86 and a twelve month high of $107.37. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -82.79 and a beta of 0.34.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.84) by ($0.29). Arcellx had a negative return on equity of 8.28% and a negative net margin of 25.94%. The business had revenue of $8.13 million for the quarter, compared to analyst estimates of $19.51 million. As a group, equities research analysts forecast that Arcellx, Inc. will post -1.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Scotiabank lowered their price target on shares of Arcellx from $133.00 to $93.00 and set a "sector outperform" rating on the stock in a report on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $111.33.

About Arcellx

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).