Canaccord Genuity Reaffirms Their Buy Rating on Adicet Bio (ACET)
In a report released today, John Newman from Canaccord Genuity maintained a Buy rating on Adicet Bio, with a price target of $8.00.
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Newman covers the Healthcare sector, focusing on stocks such as Delcath Systems, Arcellx Inc, and Regeneron. According to TipRanks, Newman has an average return of -1.6% and a 36.60% success rate on recommended stocks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Adicet Bio with a $6.50 average price target.
Based on Adicet Bio’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $26.86 million. In comparison, last year the company had a GAAP net loss of $30.48 million
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ACET in relation to earlier this year.
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