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Arcellx, based in Redwood (NYSE:RWT) City, California, is a biotechnology firm specializing in biological products. The company's stock is traded under the ticker symbol ACLX on NASDAQ. With a market capitalization of $4.28 billion and remarkable revenue growth of 230% in the last twelve months, the company has captured significant investor attention. Discover more detailed insights and financial metrics with a comprehensive Pro Research Report available on InvestingPro. With a market capitalization of $4.28 billion and remarkable revenue growth of 230% in the last twelve months, the company has captured significant investor attention. Discover more detailed insights and financial metrics with a comprehensive Pro Research Report available on InvestingPro.
Arcellx, based in Redwood City, California, is a biotechnology firm specializing in biological products. The company's stock is traded under the ticker symbol ACLX on NASDAQ. With a market capitalization of $4.28 billion and remarkable revenue growth of 230% in the last twelve months, the company has captured significant investor attention. Discover more detailed insights and financial metrics with a comprehensive Pro Research Report available on InvestingPro.
Arcellx, based in Redwood City, California, is a biotechnology firm specializing in biological products. The company's stock is traded under the ticker symbol ACLX on NASDAQ.
In other recent news, Arcellx Inc. has been the subject of several analyst notes, following the release of data on its candidate, anito-cel. Stifel maintained a Buy rating on the stock, highlighting the potential of anito-cel in the Multiple Myeloma market. TD Cowen also maintained a Buy rating, emphasizing the treatment's efficacy and superior safety profile. BofA Securities increased the price target to $112 from the previous $100, expecting Arcellx to capture a larger share of the market. Truist Securities raised the price target to $136, citing Arcellx's strong financial position and promising data for its Anito-cel therapy. Lastly, Piper Sandler maintained an Overweight rating and raised the price target to $115.
The analysts' notes followed the release of data from the iMMagine-1 study, which demonstrated a high overall response rate. The data also indicated that anito-cel has a better safety profile compared to cilta-cel, a similar treatment. Arcellx's manufacturing capabilities for anito-cel were also praised, potentially positioning the company to establish a strong position in the market for cancer treatments.
These recent developments come as Arcellx reported ending the third quarter with a robust $677 million in cash and equivalents, expected to fund operations into 2027. The company's financial health, combined with the anticipated success of its Anito-cel therapy, contributed to the positive outlook for Arcellx's shares.
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