Adicet Bio, Inc. (NASDAQ:ACET) Receives Average Rating of “Moderate Buy” from Analysts

Adicet Bio, Inc. (NASDAQ:ACET) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $7.3333.

A number of equities research analysts have recently weighed in on the stock. Guggenheim boosted their price objective on shares of Adicet Bio from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. HC Wainwright boosted their price target on Adicet Bio from $4.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research note on Thursday, October 30th. Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a report on Thursday, November 6th.

Institutional Investors Weigh In On Adicet Bio

Hedge funds have recently added to or reduced their stakes in the business. Susquehanna International Group LLP acquired a new position in shares of Adicet Bio in the 3rd quarter valued at about $33,000. Squarepoint Ops LLC acquired a new stake in shares of Adicet Bio during the 3rd quarter worth approximately $38,000. Virtu Financial LLC acquired a new position in shares of Adicet Bio in the 3rd quarter valued at $65,000. Vontobel Holding Ltd. boosted its holdings in Adicet Bio by 33.3% during the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after buying an additional 20,000 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC grew its position in Adicet Bio by 208.8% during the first quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company’s stock valued at $172,000 after buying an additional 154,037 shares during the period. 83.89% of the stock is owned by hedge funds and other institutional investors.

Adicet Bio Stock Up 4.3%

Shares of Adicet Bio stock traded up $0.02 during trading on Friday, reaching $0.60. The company’s stock had a trading volume of 981,860 shares, compared to its average volume of 1,931,050. Adicet Bio has a 1-year low of $0.45 and a 1-year high of $1.19. The company has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $0.74. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.01. The company has a market cap of $92.31 million, a price-to-earnings ratio of -0.48 and a beta of 1.61.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). As a group, equities analysts forecast that Adicet Bio will post -1.39 earnings per share for the current year.

About Adicet Bio

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.