Adicet Bio, Inc. (NASDAQ:ACET) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $69.00.

A number of research firms have recently weighed in on ACET. Guggenheim upped their target price on shares of Adicet Bio from $112.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Citigroup restated a “market perform” rating on shares of Adicet Bio in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a report on Tuesday, January 27th. Canaccord Genuity Group set a $18.00 price target on Adicet Bio and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $50.00 price objective (up previously from $9.00) on shares of Adicet Bio in a research report on Wednesday, January 21st.

Institutional Trading of Adicet Bio

A number of large investors have recently made changes to their positions in ACET. FNY Investment Advisers LLC purchased a new position in Adicet Bio during the fourth quarter valued at $51,000. Susquehanna International Group LLP bought a new position in shares of Adicet Bio during the 3rd quarter valued at approximately $33,000. Citadel Advisors LLC increased its holdings in Adicet Bio by 19.8% in the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock worth $473,000 after acquiring an additional 96,342 shares in the last quarter. Virtu Financial LLC bought a new stake in Adicet Bio during the 3rd quarter worth approximately $65,000. Finally, Two Sigma Investments LP lifted its holdings in Adicet Bio by 66.6% during the third quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock valued at $692,000 after purchasing an additional 341,761 shares in the last quarter. 83.89% of the stock is currently owned by institutional investors.

Adicet Bio Stock Down 3.5%

Shares of NASDAQ ACET opened at $7.43 on Thursday. The firm’s fifty day moving average is $8.29 and its 200 day moving average is $10.82. Adicet Bio has a 52 week low of $7.15 and a 52 week high of $17.44. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.01. The company has a market cap of $71.16 million, a price-to-earnings ratio of -0.37 and a beta of 1.58.

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

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.