H.C. Wainwright analyst Emily Bodnar initiated coverage of Arcellx with a Buy rating and $42 price target. Arcellx’s CAR-T therapies are constructed with a novel CAR binding domain, called the D-Domain, which is smaller and highly stable compared to traditional scFv binding domains used in approved CAR-T therapies, the analyst tells investors in a research note. The firm believes there could be significant upside if CART-ddBCMA demonstrates superior durability in iMMagine-1 compared to CARTITUDE-1 and sees a high probably of success given Phase 1 enrolled many high-risk patients.
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