Fintel reports that on August 10, 2023, BTIG maintained coverage of Adicet Bio (NASDAQ:ACET) with a Buy recommendation.
Analyst Price Forecast Suggests 941.70% Upside
As of August 2, 2023, the average one-year price target for Adicet Bio is 24.48. The forecasts range from a low of 14.14 to a high of $39.90. The average price target represents an increase of 941.70% from its latest reported closing price of 2.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Adicet Bio is 5MM, an increase of ∞%. The projected annual non-GAAP EPS is -2.08.
What is the Fund Sentiment?
There are 254 funds or institutions reporting positions in Adicet Bio. This is an increase of 1 owner(s) or 0.40% in the last quarter. Average portfolio weight of all funds dedicated to ACET is 0.07%, a decrease of 46.78%. Total shares owned by institutions decreased in the last three months by 8.52% to 41,660K shares. 
The put/call ratio of ACET is 0.40, indicating a bullish outlook.
What are Other Shareholders Doing?
Orbimed Advisors holds 7,447K shares representing 17.34% ownership of the company. No change in the last quarter.
Rtw Investments holds 4,241K shares representing 9.87% ownership of the company. No change in the last quarter.
EcoR1 Capital holds 3,561K shares representing 8.29% ownership of the company. No change in the last quarter.
Cowen And Company holds 2,835K shares representing 6.60% ownership of the company. In it's prior filing, the firm reported owning 3,144K shares, representing a decrease of 10.89%. The firm decreased its portfolio allocation in ACET by 74.33% over the last quarter.
Tang Capital Management holds 2,520K shares representing 5.87% ownership of the company. In it's prior filing, the firm reported owning 600K shares, representing an increase of 76.19%. The firm increased its portfolio allocation in ACET by 177.54% over the last quarter.
Adicet Bio Background Information
(This description is provided by the company.)
Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of 'off-the-shelf' gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.
Additional reading:
- Adicet Reports Second Quarter 2023 Financial Results and Provides Business Updates Announced encouraging safety and efficacy data in ongoing Phase 1 study of ADI-001 for the potential treatment of relapsed or refractory B-cell non-Hodgkin’s lymphoma
- Fourth Amendment to Lease, dated as of August 7, 2023, by and between Adicet Therapeutics, Inc. as Tenant, and Westport Office Park, LLC as Landlord.
- Adicet Bio, Inc. Inducement Non-Qualified Stock Option Agreement.
- Adicet Announces Appointment of Katie Peng to the Board of Directors
- JOINT FILING AGREEMENT
This story originally appeared on Fintel.
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