** Shares of Arcellx up about 2.5% at $92 in afternoon trading
** Brokerage Guggenheim raises ACLX's PT to $105 from $77, maintains "buy" rating
** Brokerage continues to see an opportunity for co's lead product, anito-cel, to be the best therapy of its kind to treat a type of blood cancer called multiple myeloma
** Anito-cel is a CAR-T therapy, which uses modified T-cells of patients to fight cancer, and is being tested for multiple myeloma that relapses or stops responding to the treatment
** ACLX plans to present initial data from a mid-stage trial for anito-cel in December
** Brokerage says investors are expecting the initial data to show better efficacy for anito-cel compared to Johnson & Johnson - Legend Biotech's Carvykti
** Stock up ~66% YTD, including session's gains
(Reporting by Sruthi Narasimha Chari in Bengaluru)
((Sruthinarasimha.chari@thomsonreuters.com))
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