Deutsche Bank AG Sells 121,161 Shares of Arcellx, Inc. (NASDAQ:ACLX)

Deutsche Bank AG lessened its position in shares of Arcellx, Inc. (NASDAQ:ACLX - Free Report) by 26.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 344,529 shares of the company's stock after selling 121,161 shares during the period. Deutsche Bank AG owned approximately 0.64% of Arcellx worth $26,422,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Arcellx

In other Arcellx news, insider Christopher Heery sold 10,155 shares of Arcellx 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 transaction, the insider now owns 37,486 shares of the company's stock, valued at $2,391,231.94. The trade was a 21.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rami Elghandour sold 38,300 shares of Arcellx stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 approximately $9,252,515.72. The trade was a 20.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 54,455 shares of company stock worth $3,407,903. Insiders own 6.24% of the company's stock.

Analysts Set New Price Targets

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

Arcellx Price Performance

Arcellx stock traded down $0.93 during mid-day trading on Tuesday, reaching $57.59. The stock had a trading volume of 50,805 shares, compared to its average volume of 583,677. The company has a 50-day moving average price of $62.92 and a two-hundred day moving average price of $71.47. Arcellx, Inc. has a one year low of $47.86 and a one year high of $107.37. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -80.88 and a beta of 0.34.

Arcellx (NASDAQ:ACLX - Get Free Report) last announced its quarterly 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 net margin of 25.94% and a negative return on equity of 8.28%. The business had revenue of $8.13 million for the quarter, compared to the consensus estimate of $19.51 million. On average, equities research analysts anticipate that Arcellx, Inc. will post -1.58 earnings per share 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).