Canaccord Genuity analyst John Newman maintained a Buy rating on Adicet Bio (ACET – Research Report) today and set a price target of $8.00.
John Newman’s rating is based on the promising potential of Adicet Bio’s ADI-001, which targets the CD20 antigen, a well-established and de-risked target in autoimmune diseases. The CD20 targeting has shown similar B-cell depletion to CD19, suggesting its viability for treating autoimmune conditions. ADI-001 has demonstrated complete B-cell depletion in a significant number of patients in trials, indicating its effectiveness.
Furthermore, the unique attributes of ADI-001, such as its allogenic gamma delta CAR-T composition, allow it to penetrate tissues more effectively, offering deeper B-cell depletion. The off-the-shelf nature of ADI-001 also circumvents manufacturing challenges associated with autologous CAR-T therapies, providing the flexibility of re-dosing if necessary. These factors collectively support the Buy rating, with expectations of positive data in the first half of 2025.