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Kavita Patel, a director at Arcellx , Inc. (NASDAQ:ACLX), recently sold a portion of her holdings in the company. According to a recent SEC filing, Patel sold 1,500 shares of Arcellx common stock on February 4, 2025, at a price of $64.57 per share. This transaction totaled $96,854 and was executed under a Rule 10b5-1 trading plan established on March 28, 2024. The stock has shown strong momentum, gaining over 32% in the past six months, with the company now commanding a market capitalization of $3.5 billion. According to InvestingPro analysis, the stock is currently trading above its Fair Value.
In addition to the stock sale, Patel also exercised stock options to acquire 1,500 shares at an exercise price of $6.66 per share. Following these transactions, Patel holds no shares from the sale and has a total of 36,077 shares remaining from previous holdings. Wall Street remains optimistic about Arcellx’s prospects, with analyst price targets ranging from $104 to $134. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report about Arcellx, along with detailed financial metrics and analysis.
In other recent news, Arcellx Inc. has been under the spotlight following a series of analyst updates. Stifel maintained its Buy rating on Arcellx, citing the potential of the company’s anito-cel therapy in the Multiple Myeloma market, with a favorable toxicity profile compared to other treatments. The firm also noted the positive reception of recent ASH 2024 data on anito-cel. Similarly, TD Cowen maintained a Buy rating for Arcellx, highlighting anito-cel’s impressive efficacy and safety profile, comparable to Carvykti but with a notably better safety profile.
BofA Securities revised its outlook on Arcellx, increasing the price target to $112 and reiterating a Buy rating. The firm highlighted anito-cel’s competitive profile against Carvykti, with higher manufacturing success rates and a potentially better neuro safety profile. Truist Securities raised its price target for Arcellx to $136, maintaining a Buy rating, emphasizing Arcellx’s strong financial position and promising data for Anito-cel therapy.
These are the recent developments for Arcellx, with all analyst firms maintaining a positive outlook on the company’s potential in the Multiple Myeloma market.
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