Adicet Bio (NASDAQ:ACET) Earns Buy Rating from HC Wainwright

Adicet Bio (NASDAQ:ACET)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a report issued on Friday, September 18th, MarketBeat Ratings reports. They presently have a $27.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 199.33% from the company’s previous close.

Several other analysts have also commented on ACET. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st. Jefferies Financial Group raised shares of Adicet Bio to a “strong-buy” rating in a report on Tuesday, September 1st. Wall Street Zen cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.80.

Adicet Bio Stock Performance

NASDAQ:ACET traded up $0.75 during midday trading on Friday, hitting $9.02. The company’s stock had a trading volume of 602,833 shares, compared to its average volume of 131,330. Adicet Bio has a fifty-two week low of $6.01 and a fifty-two week high of $17.44. The firm’s 50 day moving average is $8.83 and its 200-day moving average is $8.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. The firm has a market cap of $84.44 million, a P/E ratio of -0.79 and a beta of 1.58.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.99) EPS for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.30). Equities analysts anticipate that Adicet Bio will post -6.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

A number of institutional investors have recently added to or reduced their stakes in the stock. NEXTBio Capital Management LP purchased a new position in shares of Adicet Bio during the 4th quarter worth $1,329,000. Regeneron Pharmaceuticals Inc. purchased a new position in shares of Adicet Bio during the 2nd quarter worth $522,819. Maven Securities LTD purchased a new position in shares of Adicet Bio during the 4th quarter worth $263,000. Rangeley Capital LLC raised its holdings in shares of Adicet Bio by 124.0% during the 1st quarter. Rangeley Capital LLC now owns 56,000 shares of the company’s stock worth $381,000 after acquiring an additional 30,999 shares during the period. Finally, Johnson & Johnson purchased a new position in shares of Adicet Bio during the 2nd quarter worth $196,811. Institutional investors and hedge funds own 83.89% of the company’s stock.

About Adicet Bio

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. Its platform is based on gamma delta T cells, a type of immune cell that may be engineered to recognize and attack tumor cells while potentially offering advantages associated with off-the-shelf cell therapies.

The company’s pipeline has included investigational CAR T-cell products designed to target specific cancer antigens, including ADI-001, an anti-CD19 therapy developed for B-cell malignancies.