Adicet Bio, Inc. (NASDAQ:ACET) Stock Has Consensus Target Price of $37.80 According to Analysts

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $37.80.

Several research firms have recently issued reports on ACET. Wall Street Zen lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Benchmark restated a “buy” rating on shares of Adicet Bio in a research note on Tuesday, September 29th. HC Wainwright upped their price target on Adicet Bio from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, September 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a report on Friday, August 21st. Finally, Wedbush reissued an “outperform” rating and issued a $28.00 price objective (up from $25.00) on shares of Adicet Bio in a report on Monday, September 28th.

Institutional Investors Weigh In On Adicet Bio

A number of institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC purchased a new stake in Adicet Bio in the 1st quarter worth $26,000. Dimensional Fund Advisors LP acquired a new position in Adicet Bio during the first quarter worth $73,000. AXQ Capital LP acquired a new position in Adicet Bio during the second quarter worth $95,000. Squarepoint Ops LLC purchased a new position in Adicet Bio during the second quarter valued at $132,000. Finally, Johnson & Johnson purchased a new position in Adicet Bio during the second quarter valued at $196,811. Institutional investors and hedge funds own 83.89% of the company’s stock.

Adicet Bio Stock Performance

NASDAQ ACET traded up $0.13 during mid-day trading on Friday, reaching $3.05. 254,019 shares of the stock were exchanged, compared to its average volume of 212,502. The business’s 50 day moving average is $6.55 and its 200-day moving average is $7.56. Adicet Bio has a 1 year low of $2.87 and a 1 year high of $11.20. The company has a market capitalization of $28.55 million, a P/E ratio of -0.36 and a beta of 1.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.71 and a current ratio of 6.71.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Thursday, November 5th. The company reported ($1.76) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.20). On average, equities research analysts forecast that Adicet Bio will post -6.76 EPS for the current fiscal year.

Adicet Bio Company Profile

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. The company’s platform is focused on genetically engineered gamma delta T cells, an immune-cell type that can recognize and attack abnormal cells while potentially offering advantages for off-the-shelf cell therapy development.

Adicet’s product candidates are designed to incorporate chimeric antigen receptors and other modifications intended to improve tumor targeting, persistence, and activity.