Arcellx, Inc. (NASDAQ:ACLX) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its position in shares of Arcellx, Inc. (NASDAQ:ACLX) by 87.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the company’s stock after purchasing an additional 14,000 shares during the period. DekaBank Deutsche Girozentrale owned approximately 0.06% of Arcellx worth $1,706,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ACLX. JPMorgan Chase & Co. bought a new position in Arcellx during the 1st quarter valued at $60,000. Bank of New York Mellon Corp bought a new position in Arcellx during the 1st quarter valued at $332,000. Citigroup Inc. bought a new position in Arcellx during the 1st quarter valued at $26,000. BlackRock Inc. bought a new position in Arcellx during the 1st quarter valued at $7,012,000. Finally, Vanguard Group Inc. bought a new position in Arcellx during the 1st quarter valued at $6,151,000. 96.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ACLX has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on shares of Arcellx in a research report on Thursday, March 7th. They issued an “overweight” rating and a $81.00 price target on the stock. HC Wainwright raised their price target on shares of Arcellx from $60.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Robert W. Baird raised their price target on shares of Arcellx from $63.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $81.00 price target on shares of Arcellx in a research report on Thursday. Finally, Canaccord Genuity Group raised their price target on shares of Arcellx from $66.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $74.17.

Arcellx Stock Down 3.5 %

Shares of NASDAQ:ACLX opened at $58.07 on Friday. The company has a market cap of $3.07 billion, a PE ratio of -39.50 and a beta of 0.02. The company’s 50-day moving average price is $65.98 and its 200 day moving average price is $54.44. Arcellx, Inc. has a fifty-two week low of $28.03 and a fifty-two week high of $75.10.

Arcellx (NASDAQ:ACLX) last released its earnings results on Wednesday, February 28th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.53) by $0.95. The firm had revenue of $63.15 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company earned ($0.76) EPS. As a group, equities analysts anticipate that Arcellx, Inc. will post -1.69 EPS for the current year.

Insider Buying and Selling at Arcellx

In other Arcellx news, Director Jill Carroll sold 504,263 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $70.55, for a total transaction of $35,575,754.65. Following the transaction, the director now owns 1,479,148 shares of the company’s stock, valued at approximately $104,353,891.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Christopher Heery sold 3,456 shares of Arcellx stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $62.29, for a total value of $215,274.24. Following the transaction, the insider now owns 36,958 shares of the company’s stock, valued at approximately $2,302,113.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jill Carroll sold 504,263 shares of Arcellx stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $70.55, for a total transaction of $35,575,754.65. Following the completion of the transaction, the director now directly owns 1,479,148 shares in the company, valued at approximately $104,353,891.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 596,412 shares of company stock valued at $41,917,612. Company insiders own 5.86% of the company’s stock.

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).