Jefferies assumed coverage of Adicet Bio with a Buy rating and a price target of $19, up from $8. Despite early Phase I data with its off-the-shelf allogeneic CD20 CAR-T showing \"encouraging\" safety and efficacy, Adicet trades at negative enterprise value, notes the analyst, who believes investor skepticism around the pipeline, potentially CD20 as a target relative to CD19, has kept the stock trading below autoimmune CAR-T peers despite comparable stage programs.
