Arcellx price target raised to $38 from $25 at Barclays

Barclays analyst Carter Gould raised the firm’s price target on Arcellx to $38 from $25 and keeps an Overweight rating on the shares. The analyst says the updated Phase 1 data "continue to impress." Kite represents Arcellx’s optimal partner with attractive economics that should reduce execution and dilution risk, Gould tells investors in a research note.