Adicet Bio, Inc. (NASDAQ:ACET) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $37.80.

A number of equities research analysts have recently commented on ACET shares. Wall Street Zen raised shares of Adicet Bio from a “sell” rating to a “hold” rating in a research note on Saturday, September 26th. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a research note on Tuesday, September 1st. Benchmark reissued a “buy” rating on shares of Adicet Bio in a report on Tuesday, September 29th. Wedbush restated an “outperform” rating and set a $28.00 price target (up from $25.00) on shares of Adicet Bio in a research report on Monday, September 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st.

Adicet Bio Stock Performance

ACET stock traded down $0.21 during trading on Tuesday, hitting $5.32. 117,884 shares of the company traded hands, compared to its average volume of 147,812. The stock’s 50-day simple moving average is $8.38 and its 200 day simple moving average is $8.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. The company has a market cap of $49.80 million, a PE ratio of -0.46 and a beta of 1.62. Adicet Bio has a 1 year low of $5.17 and a 1 year high of $17.04.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.30). On average, equities analysts expect that Adicet Bio will post -6.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Several hedge funds have recently modified their holdings of ACET. Squarepoint Ops LLC acquired a new stake in shares of Adicet Bio during the 2nd quarter valued at about $132,000. AXQ Capital LP purchased a new position in shares of Adicet Bio in the 2nd quarter valued at about $95,000. Regeneron Pharmaceuticals Inc. purchased a new position in shares of Adicet Bio in the 2nd quarter valued at about $522,819. Johnson & Johnson acquired a new position in Adicet Bio in the 2nd quarter worth about $196,811. Finally, NewEdge Advisors LLC acquired a new position in Adicet Bio in the 1st quarter worth about $26,000. 83.89% of the stock is owned by hedge funds and other institutional investors.

Adicet Bio Company Profile

Adicet Bio, Inc is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” T-cell therapies for cancer and autoimmune diseases. The company’s platform uses gamma delta T cells, a distinct type of immune cell that it engineers with chimeric antigen receptors (CARs) to recognize and attack diseased cells.

Adicet’s development programs have included ADI-001, an allogeneic gamma delta CAR T-cell therapy designed to target CD19 on B-cell malignancies, including certain forms of lymphoma.