Adicet Bio (NASDAQ:ACET) Stock Rating Upgraded by Jefferies Financial Group

Adicet Bio (NASDAQ:ACET) was upgraded by equities researchers at Jefferies Financial Group to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

A number of other research firms have also recently commented on ACET. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research note on Friday, August 21st. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price target (down from $100.00) on shares of Adicet Bio in a research note on Thursday, August 6th. Finally, Wall Street Zen lowered Adicet Bio from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

Adicet Bio Stock Performance

Shares of NASDAQ:ACET opened at $9.26 on Tuesday. Adicet Bio has a 1 year low of $6.01 and a 1 year high of $17.44. The firm has a market capitalization of $86.67 million, a price-to-earnings ratio of -0.81 and a beta of 1.58. 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 business’s 50 day moving average price is $8.67 and its 200-day moving average price is $7.95.

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

Hedge Funds Weigh In On Adicet Bio

Several hedge funds and other institutional investors have recently modified their holdings of ACET. Franklin Resources Inc. purchased a new stake in Adicet Bio during the 4th quarter valued at about $5,276,000. Two Sigma Investments LP raised its holdings in Adicet Bio by 66.6% in the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock valued at $692,000 after acquiring an additional 341,761 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Adicet Bio in the 4th quarter worth approximately $2,310,000. Prosight Management LP acquired a new position in shares of Adicet Bio during the 4th quarter worth approximately $2,107,000. Finally, NEXTBio Capital Management LP acquired a new position in shares of Adicet Bio during the 4th quarter worth approximately $1,329,000. 83.89% of the stock is owned by hedge funds and other institutional investors.

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.