Adicet Bio price target raised to $8 from $7 at Guggenheim

Guggenheim raised the firm’s price target on Adicet Bio (ACET) to $8 from $7 and keeps a Buy rating on the shares after the company presented “impressive data” for ADI-001 in lupus nephritis and systemic lupus erythematosus. The firm, which notes that it has fine-tuned quarterly forecasts to incorporate updated operating cadence assumptions, believes the stock appears “significantly undervalued” and would be buyers, especially at current levels.