In a report released today, John Newman from Canaccord Genuity maintained a Buy rating on Adicet Bio (ACET), with a price target of $28.00. The company’s shares closed last Wednesday at $13.73.
According to TipRanks.com, Newman is a 4-star analyst with an average return of 12.4% and a 42.5% success rate. Newman covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Hutchison China MediTech, and Allogene Therapeutics.
Adicet Bio has an analyst consensus of Strong Buy, with a price target consensus of $28.60, which is an 115.8% upside from current levels. In a report issued on May 17, BTIG also initiated coverage with a Buy rating on the stock with a $34.00 price target.
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Based on Adicet Bio’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $21.32 million. In comparison, last year the company earned revenue of $1.97 million and had a GAAP net loss of $6.58 million.
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resTORbio, Inc. is a clinical-stage biopharmaceutical company. The firm engages in the development and commercialization of medicines for aging-related diseases and conditions. It offers an immunotherapy under the TORC1 program. The company was founded by Chen Schor and Joan Mannick on July 5, 2016 and is headquartered in Boston, MA.
