Recommendation: Buy
| Entry Date | Symbol | Recommendation | Entry Price (USD) | Target 1 (USD) | Target 2 (USD) | Holding Duration | Potential Upside |
|---|---|---|---|---|---|---|---|
| 4 Jul, 24 | ACET | Buy | USD 1.06 | USD 1.14 | USD 1.25 | 13 days | 17.9% |
Data Powered by EOD Historical Data (“EODHD”).
Adicet Bio, Inc., a clinical stage biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. The company offers gamma delta T cells engineered with chimeric antigen receptors (CARs) to facilitate durable activity in patients. Its lead product candidate is ADI-001, an allogeneic gamma delta T cell therapy expressing a CAR targeting CD20, which is in Phase I clinical trial for the treatment of autoimmune diseases and relapsed or refractory aggressive B cell non-Hodgkin's lymphoma. The company is also developing ADI-270, an armored gamma delta CAR T cell product candidate targeting renal cell carcinoma for treating other CD70+ solid tumor and hematological malignancies indications. The company was founded in 2014 and is based in Boston, Massachusetts.
Higher Current Ratio: 14.34x in Q1FY24 vs. Industry Median of 6.92x
Decreased Operating Expenses: USD 30.87 mn in Q1FY24 vs. USD 33.32 mn in Q1FY23
Lower Leverage: Asset Equity Ratio of 1.13x in Q1FY24 vs Industry Median of 1.28x
Negative cash flow from operations: - USD 22.85 million in Q1FY24
Market risks, Regulatory risks, Interest rate risks, Currency risks, Social and political instabiltiy risks etc.
| Entry Price | Support* | Target 1 | Target 2 |
|---|---|---|---|
| 1.06 | 0.87 | 1.14 | 1.25 |
Data Source: REFINITIV, Analysis: StockNextt
*Support can be considered as an indicative stop-loss, and if prices move below that level on closing basis individuals may evaluate exiting the position depending on their risk appetite, previous holdings, and other factors considered. The support and resistance levels may need to be re-evaluated within 4-6 weeks’ time frame depending on the stock price movements from the date of recommendation on the stock.
Financial: As of March 31, 2024, Adicet Bio held cash and cash equivalents totaling USD 247.6 million, up from USD 231.6 million as of March 31, 2023.
Technical: The Relative Strength Index (RSI) over a 14-day period stands at a value of 30.45, currently downward trending, with expectations of a consolidation or a downward continuation.
Outlook: The company expects to fund operating expenses into second half of 2026 using current quarter cash balance.
Given aforementioned factors, a 'Buy' recommendation has been assigned on the stock at the closing market price of USD 1.06 as of July 03, 2024.
Data Powered by EOD Historical Data (“EODHD”).
Sector: Healthcare Industry: Biotechnology
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| ACET Adicet Bio Inc |
-0.015 1.05% | 1.42 | - | - | 9.72 | 1.04 | 2.14 | -0.2832 |
| NVO Novo Nordisk A/S |
-0.48 0.41% | 116.72 | 41.58 | 31.15 | 2.13 | 32.99 | 2.11 | 4.70 |
| NONOF Novo Nordisk A/S |
-0.75 0.65% | 115.00 | 41.06 | 31.25 | 2.08 | 33.11 | 2.11 | 4.70 |
| VRTX Vertex Pharmaceuticals Inc |
6.86 1.49% | 465.80 | 29.67 | 24.33 | 10.38 | 5.83 | 9.33 | 20.00 |
| REGN Regeneron Pharmaceuticals Inc |
3.29 0.33% | 1008.55 | 29.07 | 20.12 | 7.57 | 3.82 | 6.95 | 19.42 |
Data Powered by EOD Historical Data (“EODHD”).
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is May 22, 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Note 4: The report publishing date is as per the Pacific Time Zone.
Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.
Target: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Target 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Target 2 may act as the crucial resistance level for the stock.
Stop-loss: It is a level to protect further losses in case of unfavourable movement in the stock prices.
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