Adicet Bio, Inc. (NASDAQ:ACET) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $48.80.

Several equities analysts have commented on ACET shares. Weiss Ratings raised shares of Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded Adicet Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Jefferies Financial Group began coverage on Adicet Bio in a research note on Tuesday, May 5th. They issued a “buy” rating and a $19.00 price objective on the stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. raised its stake in Adicet Bio by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock valued at $2,882,000 after purchasing an additional 63,691 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Adicet Bio by 66.6% during the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock worth $692,000 after purchasing an additional 341,761 shares during the period. Franklin Resources Inc. bought a new position in shares of Adicet Bio during the 4th quarter worth about $5,276,000. Citadel Advisors LLC raised its position in shares of Adicet Bio by 19.8% during the third quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock valued at $473,000 after buying an additional 96,342 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Adicet Bio in the fourth quarter valued at about $2,310,000. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Adicet Bio Stock Up 2.9%

NASDAQ ACET traded up $0.24 during trading on Thursday, reaching $8.54. 3,690 shares of the company’s stock were exchanged, compared to its average volume of 130,443. The company has a current ratio of 7.66, a quick ratio of 7.65 and a debt-to-equity ratio of 0.01. Adicet Bio has a fifty-two week low of $6.01 and a fifty-two week high of $17.44. The company’s fifty day simple moving average is $8.28 and its 200-day simple moving average is $7.78. The firm has a market capitalization of $79.86 million, a PE ratio of -0.57 and a beta of 1.58.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($1.88) EPS for the quarter, beating the consensus estimate of ($2.93) by $1.05. Sell-side analysts predict that Adicet Bio will post -8.61 EPS 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.