Adicet Bio, Inc. (NASDAQ:ACET) Given Average Rating of “Moderate Buy” by Analysts

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $7.3333.

ACET has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a report on Tuesday, October 7th. Citigroup reiterated a “market perform” rating on shares of Adicet Bio in a report on Wednesday, November 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a report on Thursday, October 30th. HC Wainwright increased their target price on Adicet Bio from $4.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a report on Thursday, November 6th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACET. Vontobel Holding Ltd. grew its stake in Adicet Bio by 33.3% during the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after buying an additional 20,000 shares during the period. Acadian Asset Management LLC boosted its position in Adicet Bio by 1.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company’s stock worth $1,538,000 after purchasing an additional 36,277 shares during the period. Susquehanna International Group LLP acquired a new stake in Adicet Bio in the 3rd quarter valued at $33,000. Squarepoint Ops LLC purchased a new position in Adicet Bio in the third quarter valued at about $38,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Adicet Bio by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after purchasing an additional 63,691 shares in the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Trading Down 1.2%

Shares of Adicet Bio stock opened at $0.49 on Wednesday. Adicet Bio has a fifty-two week low of $0.45 and a fifty-two week high of $1.11. The business’s fifty day moving average is $0.66 and its two-hundred day moving average is $0.72. 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 firm has a market cap of $74.47 million, a PE ratio of -0.39 and a beta of 1.61.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Analysts anticipate 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.