Adicet Bio price target lowered to $6 from $10 at BTIG

BTIG lowered the firm’s price target on Adicet Bio to $6 from $10 and keeps a Buy rating on the shares. Adicet’s Q3 earnings report highlighted progress on ADI-001 clinical development with an expansion cohort initiated for post CART LBCL and continues to enroll MCL patients in the ongoing Phase 1 GLEAN study, the analyst tells investors in a research note. Adicet has paused preclinical development of ADI-925 to prioritize corporate resources on IND-enabling activities for ADI-270, the firm notes.