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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $48.80.

Several analysts have issued reports on ACET shares. HC Wainwright lowered their target price on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Jefferies Financial Group started coverage on shares of Adicet Bio in a research note on Tuesday, May 5th. They issued a “buy” rating and a $19.00 target price on the stock. Weiss Ratings upgraded shares of Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Guggenheim lowered their target price on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Finally, Wall Street Zen upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th.

Adicet Bio Stock Performance

NASDAQ ACET opened at $7.76 on Wednesday. Adicet Bio has a 1 year low of $6.01 and a 1 year high of $17.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.66 and a quick ratio of 7.65. The stock has a market capitalization of $72.56 million, a PE ratio of -0.52 and a beta of 1.56. The company’s 50 day simple moving average is $7.84 and its two-hundred day simple moving average is $7.77.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Wednesday, May 13th. The company reported ($1.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.93) by $1.05. Analysts predict that Adicet Bio will post -8.61 earnings per share for the current fiscal year.

Institutional Trading of Adicet Bio

Several institutional investors and hedge funds have recently made changes to their positions in ACET. Franklin Resources Inc. purchased a new stake in shares of Adicet Bio during the 4th quarter valued at $5,276,000. Two Sigma Investments LP raised its position in shares of Adicet Bio by 66.6% during the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock valued at $692,000 after buying an additional 341,761 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Adicet Bio during the 4th quarter valued at $2,310,000. Prosight Management LP purchased a new stake in shares of Adicet Bio during the 4th quarter valued at $2,107,000. Finally, NEXTBio Capital Management LP purchased a new stake in shares of Adicet Bio during the 4th quarter valued at $1,329,000. 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.