Adicet Bio, Inc. (NASDAQ:ACET) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Adicet Bio, Inc. (NASDAQ:ACET) has received a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $37.80.

ACET has been the topic of a number of recent research reports. Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a research report on Tuesday, September 1st. Benchmark reissued a “buy” rating on shares of Adicet Bio in a research report on Tuesday, September 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research note on Friday, August 21st. HC Wainwright upped their price objective on shares of Adicet Bio from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, September 28th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a report on Thursday, August 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC acquired a new stake in Adicet Bio during the 1st quarter worth about $26,000. Dimensional Fund Advisors LP purchased a new position in shares of Adicet Bio during the 1st quarter valued at about $73,000. AXQ Capital LP purchased a new position in shares of Adicet Bio during the 2nd quarter valued at about $95,000. Squarepoint Ops LLC acquired a new position in shares of Adicet Bio in the 2nd quarter valued at about $132,000. Finally, Johnson & Johnson acquired a new position in shares of Adicet Bio in the 2nd quarter valued at about $196,811. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Adicet Bio Stock Performance

Shares of ACET stock traded down $0.21 during mid-day trading on Tuesday, reaching $5.32. The stock had a trading volume of 117,884 shares, compared to its average volume of 147,812. The business’s fifty day moving average is $8.38 and its 200-day moving average is $8.12. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.01. The firm has a market cap of $49.80 million, a price-to-earnings 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 data on Wednesday, August 5th. The company reported ($1.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.69) by ($0.30). On average, research analysts forecast that Adicet Bio will post -6.76 earnings per share for the current year.

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.