Arcellx price target raised to $63 from $52 at Baird

Baird raised the firm’s price target on Arcellx to $63 from $52 and keeps an Outperform rating on the shares. The firm noted through the expansion of the collaboration with Kite, Arcellx will receive $285M upfront , as Kite opts-in to license the ARC-SparX technology in multiple myeloma and the CART-ddBCMA expands into lymphomas.