Adicet Bio downgraded to Hold from Buy at JonesResearch

JonesResearch downgraded Adicet Bio to Hold from Buy without a price target after the company presented updated data in CAR T relapsed and naive patients. The stock will likely be pressured as the cohort size of the key focus patient population is “too small to make a call” and the lack of clinical data for at least 12 months, the analyst tells investors in a research note. The firm expects to see some translational data in 2023 but says efficacy readouts are not expected until the second half of 2024. A ack of clinical and efficacy data for the next 12 months is likely to keep pressure on the stock, says JonesResearch.