10 Penny Stocks With Huge Upside Potential According To Analysts

3. Adicet Bio, Inc. (NASDAQ:ACET)

Average Upside Potential as of March 20: 671.80%

Number of Hedge Fund Holders: 18

Boston-based Adicet Bio, Inc. (NASDAQ:ACET) develops allogeneic gamma delta T cell therapies for cancer and autoimmune diseases. Its lead candidate, ADI-001, is in a Phase I trial for B cell non-Hodgkin’s lymphoma and autoimmune conditions, while ADI-270 targets renal cell carcinoma and other CD70+ tumors. Wall Street analysts are bullish on the ACET, making it one of the penny stocks with the biggest upside.

On February 27, Adicet Bio, Inc. (NASDAQ:ACET) announced that the FDA granted Fast Track Designation to ADI-001 for systemic sclerosis (SSc), expediting its development. ADI-001, a CAR T cell therapy targeting CD20, is also approved for lupus nephritis (LN) and systemic lupus erythematosus (SLE). The company is advancing it across six autoimmune diseases, with LN trials underway and enrollment for SLE, SSc, myositis, and stiff person syndrome starting in Q2 2025.

In Q4 2024, Adicet Bio, Inc. (NASDAQ:ACET)’s R&D expenses came in at $23.3 million, compared to $24.8 million in Q3 2024, mainly due to lower manufacturing costs. Meanwhile, G&A expenses increased to $7.5 million from $6.8 million, because of higher professional fees. The company reported a net loss of $28.7 million for the fourth quarter, slightly better than the $29.5 million loss in the same quarter last year, including non-cash stock-based compensation. As of December 31, 2024, cash and short-term investments rose to $176.3 million from $159.7 million, and the company expects to sustain operations through late 2026.

According to Insider Monkey’s fourth quarter database, 18 hedge funds were bullish on Adicet Bio, Inc. (NASDAQ:ACET), compared to the last quarter, when 17 funds had invested in the company.