7 Best Halal Stocks To Buy Now (Debt Free)

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

Number of Hedge Fund Holders: 22 

D/E Ratio: 0.08

Adicet Bio, Inc. (NASDAQ:ACET) is a clinical-stage biotechnology company focused on developing allogeneic gamma delta T cell therapies for cancer and autoimmune diseases. According to 7 analysts, the average rating for ACET stock is a “Strong Buy.” The 12-month stock price target is $15.17, representing a potential upside of 1,075.97% from the current price. Analysts are bullish on Adicet Bio due to its promising pipeline and upcoming catalysts, including clinical data readouts.

There are 22 hedge fund holders in the company as of Q1 2024. The hedge fund with the largest position in ACET is OrbiMed Advisors LLC.

In Q1 2024, Adicet Bio, Inc. (NASDAQ:ACET)’s research and development (R&D) Expenses were $23.9 million, down from $26.8 million in Q1 2023 and the general and administrative (G&A) Expenses stood at $7.0 million, up from $6.6 million in Q1 2023. The company is on track to initiate a Phase 1 clinical trial for ADI-001 in lupus nephritis in Q2 2024.