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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $48.80.

Several brokerages have recently issued reports on ACET. Weiss Ratings upgraded shares of Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Truist Financial upgraded Adicet Bio to a “strong-buy” rating in a research note on Wednesday, March 25th. Jefferies Financial Group assumed coverage on Adicet Bio in a report on Tuesday, May 5th. They issued a “buy” rating and a $19.00 target price for the company. Finally, HC Wainwright decreased their price target on Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, March 23rd.

Hedge Funds Weigh In On Adicet Bio

Several hedge funds and other institutional investors have recently bought and sold shares of ACET. Goldman Sachs Group Inc. boosted its stake in shares of Adicet Bio by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after buying an additional 63,691 shares during the last quarter. Two Sigma Investments LP grew its position in Adicet Bio by 66.6% during the third quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock valued at $692,000 after buying an additional 341,761 shares during the period. Franklin Resources Inc. purchased a new stake in Adicet Bio during the fourth quarter valued at approximately $5,276,000. Citadel Advisors LLC raised its position in Adicet Bio by 19.8% in the third quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock worth $473,000 after acquiring an additional 96,342 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Adicet Bio during the 4th quarter worth $2,310,000. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Price Performance

Shares of NASDAQ:ACET remained flat at $9.00 on Friday. The stock had a trading volume of 101,107 shares, compared to its average volume of 79,345. Adicet Bio has a 1 year low of $6.01 and a 1 year high of $17.44. The company has a current ratio of 7.66, a quick ratio of 7.65 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $8.10 and a 200 day moving average price of $7.73. The company has a market capitalization of $84.15 million, a P/E ratio of -0.60 and a beta of 1.58.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($1.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.93) by $1.05. As a group, sell-side analysts anticipate that Adicet Bio will post -8.61 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.