Adicet Bio, Inc. (NASDAQ:ACET) Receives $48.80 Average Target Price from Analysts

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $48.80.

ACET has been the subject of several research reports. Truist Financial raised Adicet Bio to a “strong-buy” rating in a research report on Wednesday, March 25th. Weiss Ratings raised shares of Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. 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 price target for the company. Wall Street Zen upgraded Adicet Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, HC Wainwright decreased their price objective on Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, March 23rd.

Adicet Bio Stock Performance

NASDAQ ACET traded down $0.11 during trading hours on Friday, reaching $8.83. The stock had a trading volume of 60,801 shares, compared to its average volume of 84,018. Adicet Bio has a 52-week low of $6.01 and a 52-week high of $17.44. The stock has a fifty day moving average of $8.21 and a 200 day moving average of $7.77. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.65 and a current ratio of 7.66. The stock has a market cap of $82.56 million, a P/E ratio of -0.59 and a beta of 1.58.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($1.88) EPS for the quarter, beating the consensus estimate of ($2.93) by $1.05. Sell-side analysts predict that Adicet Bio will post -8.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new stake in shares of Adicet Bio in the 1st quarter valued at $26,000. FNY Investment Advisers LLC acquired a new stake in shares of Adicet Bio during the 4th quarter worth about $51,000. Dimensional Fund Advisors LP purchased a new stake in Adicet Bio during the first quarter worth approximately $73,000. Maven Securities LTD purchased a new stake in Adicet Bio during the fourth quarter worth approximately $263,000. Finally, Susquehanna International Group LLP acquired a new position in Adicet Bio in the third quarter valued at approximately $33,000. 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.