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

Adicet Bio, Inc. (NASDAQ:ACET) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $69.00.

Several equities analysts have issued reports on ACET shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research note on Tuesday, January 27th. Canaccord Genuity Group set a $18.00 target price on shares of Adicet Bio and gave the company a “buy” rating in a report on Tuesday, January 6th. Citigroup reiterated a “market perform” rating on shares of Adicet Bio in a research note on Wednesday, November 19th. Finally, HC Wainwright reissued a “buy” rating and set a $50.00 price target (up from $9.00) on shares of Adicet Bio in a report on Wednesday, January 21st.

Adicet Bio Trading Down 2.3%

Shares of ACET stock opened at $7.29 on Monday. The company has a market capitalization of $69.84 million, a P/E ratio of -0.36 and a beta of 1.56. 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 business’s 50 day moving average is $7.72 and its two-hundred day moving average is $10.20. Adicet Bio has a twelve month low of $6.41 and a twelve month high of $17.44.

Institutional Trading of Adicet Bio

Several hedge funds have recently modified their holdings of the business. Wealthedge Investment Advisors LLC boosted its position in shares of Adicet Bio by 37.4% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock worth $191,000 after purchasing an additional 85,307 shares in the last quarter. ADAR1 Capital Management LLC acquired a new stake in shares of Adicet Bio in the fourth quarter valued at about $1,083,000. Burkehill Global Management LP acquired a new position in Adicet Bio during the fourth quarter worth about $526,000. Squarepoint Ops LLC grew its position in Adicet Bio by 20.0% during the fourth quarter. Squarepoint Ops LLC now owns 55,723 shares of the company’s stock worth $469,000 after buying an additional 9,296 shares during the period. Finally, Prosight Management LP purchased a new position in Adicet Bio in the fourth quarter valued at about $2,107,000. 83.89% of the stock is owned by institutional investors and hedge funds.

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.