Adicet Bio price target lowered to $10 from $20 at BTIG

BTIG analyst Justin Zelin lowered the firm’s price target on Adicet Bio to $10 from $20 after its Q2 earnings miss but keeps a Buy rating on the shares. The company is an attractive investment in the allogeneic cell therapy sector, as it uses the unique capabilities of gamma-delta T-cells to address both hematological and solid cancers with a significantly reduced risk of graft versus host disease (GvHD) and cytokine release syndrome, the analyst tells investors in a research note, adding that the firm expects Adicet to grow in value over the next 12-18 months through multiple inflection points as they look toward pivotal trial initiation for ADI-001 in 2H24E.