Adicet Bio, Inc. (NASDAQ:ACET) Given Average Rating of “Moderate Buy” by Brokerages

Adicet Bio, Inc. (NASDAQ:ACET) has received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $92.50.

A number of equities research analysts have recently commented on the company. Wedbush restated an “outperform” rating and set a $80.00 target price on shares of Adicet Bio in a research report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a research report on Thursday, October 30th. Jefferies Financial Group raised Adicet Bio to a “strong-buy” rating in a report on Tuesday, October 7th. HC Wainwright upped their target price on Adicet Bio from $64.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Canaccord Genuity Group set a $18.00 target price on Adicet Bio and gave the company a “buy” rating in a research report on Tuesday.

Adicet Bio Stock Performance

ACET opened at $8.03 on Friday. The firm has a fifty day moving average price of $9.03 and a 200 day moving average price of $11.19. Adicet Bio has a 1 year low of $7.15 and a 1 year high of $17.44. The stock has a market cap of $76.93 million, a P/E ratio of -0.40 and a beta of 1.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.62 and a quick ratio of 5.62.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($4.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.16) by ($0.48). Equities research analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current year.

Institutional Trading of Adicet Bio

Several institutional investors have recently modified their holdings of ACET. Goldman Sachs Group Inc. raised its position in shares of Adicet Bio by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after purchasing an additional 63,691 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Adicet Bio by 1.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company’s stock worth $1,538,000 after buying an additional 36,277 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Adicet Bio by 33.3% during the 2nd 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. Wealthedge Investment Advisors LLC increased its stake in Adicet Bio by 37.4% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock worth $191,000 after buying an additional 85,307 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Adicet Bio during the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

About Adicet Bio

Adicet Bio, Inc (NASDAQ: ACET) is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of γδ T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of γδ T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.

Adicet’s lead product candidate, ADI-001, is a CAR‐engineered allogeneic γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.