In a report released today, Asthika Goonewardene from Truist Financial assigned a Buy rating to Adicet Bio (ACET – Research Report). The company’s shares closed yesterday at $1.40.
According to TipRanks, Goonewardene is an analyst with an average return of -2.7% and a 34.59% success rate. Goonewardene covers the Healthcare sector, focusing on stocks such as Genmab, Iovance Biotherapeutics, and Mersana Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Adicet Bio with a $9.20 average price target, implying a 557.14% upside from current levels. In a report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $10.00 price target.
Based on Adicet Bio’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $177 thousand and a GAAP net loss of $29.49 million. In comparison, last year the company had a GAAP net loss of $29.87 million
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Adicet Bio (ACET) Company Description:
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.
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