Analysts Set Adicet Bio, Inc. (NASDAQ:ACET) Target Price at $48.80

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $48.80.

A number of research analysts have weighed in on the stock. Guggenheim reduced their price target on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Wall Street Zen upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings lowered shares of Adicet Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, May 11th. Jefferies Financial Group started coverage on shares of Adicet Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Truist Financial upgraded shares of Adicet Bio to a “strong-buy” rating in a research note on Wednesday, March 25th.

Adicet Bio Trading Up 5.2%

Shares of ACET stock opened at $8.30 on Friday. The stock has a market cap of $77.59 million, a price-to-earnings ratio of -0.56 and a beta of 1.50. The company has a quick ratio of 7.65, a current ratio of 7.66 and a debt-to-equity ratio of 0.01. Adicet Bio has a fifty-two week low of $6.01 and a fifty-two week high of $17.44. The firm’s 50 day moving average price is $7.45 and its two-hundred day moving average price is $8.04.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($1.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.93) by $1.05. On average, analysts anticipate that Adicet Bio will post -8.61 EPS for the current year.

Institutional Trading of Adicet Bio

Hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP purchased a new stake in shares of Adicet Bio during the third quarter valued at approximately $33,000. Squarepoint Ops LLC purchased a new stake in shares of Adicet Bio during the third quarter valued at approximately $38,000. FNY Investment Advisers LLC purchased a new stake in shares of Adicet Bio during the fourth quarter valued at approximately $51,000. Virtu Financial LLC purchased a new stake in shares of Adicet Bio during the third quarter valued at approximately $65,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Adicet Bio during the first quarter valued at approximately $73,000. Hedge funds and other institutional investors 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.