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

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

A number of research analysts have recently weighed in on the company. HC Wainwright increased their price objective on Adicet Bio from $64.00 to $144.00 and gave the company a “buy” rating in a report on Friday, November 7th. Citigroup reiterated a “market perform” rating on shares of Adicet Bio in a research report on Wednesday, November 19th. Canaccord Genuity Group set a $18.00 price target on shares of Adicet Bio and gave the stock a “buy” rating in a report on Tuesday. Guggenheim lifted their price objective on shares of Adicet Bio from $112.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $80.00 price objective on shares of Adicet Bio in a report on Thursday, November 6th.

Institutional Investors Weigh In On Adicet Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP acquired a new position in shares of Adicet Bio in the 3rd quarter valued at about $33,000. Squarepoint Ops LLC acquired a new stake in Adicet Bio during the third quarter worth about $38,000. Vontobel Holding Ltd. raised its position in Adicet Bio by 33.3% during the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock valued at $49,000 after acquiring an additional 20,000 shares in the last quarter. Virtu Financial LLC purchased a new position in Adicet Bio during the third quarter valued at approximately $65,000. Finally, Wealthedge Investment Advisors LLC lifted its holdings in Adicet Bio by 37.4% in the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after acquiring an additional 85,307 shares during the period. 83.89% of the stock is owned by institutional investors and hedge funds.

Adicet Bio Trading Down 0.7%

NASDAQ:ACET opened at $8.03 on Friday. Adicet Bio has a 12 month low of $7.15 and a 12 month high of $17.44. The firm has a fifty day simple moving average of $9.03 and a 200-day simple moving average of $11.19. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $76.93 million, a P/E ratio of -0.40 and a beta of 1.60.

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

Adicet Bio Company Profile

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.