Baird analyst Jack Allen lowered the firm’s price target on Arcellx to $40 from $55 and keeps an Outperform rating on the shares. The firm noted they announced the pivotal IMMagine-1 study of CART-ddBCMA, the company’s lead asset, had been placed on clinical hold by the FDA and said we expect this negative clinical update will dampen sentiment surrounding the name in the near-term.
Published first on TheFly
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