Adicet Bio (NASDAQ:ACET) Price Target Cut to $100.00 by Analysts at Guggenheim

Adicet Bio (NASDAQ:ACET) had its price objective cut by investment analysts at Guggenheim from $128.00 to $100.00 in a report issued on Friday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock.

ACET has been the subject of several other reports. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective (up from $9.00) on shares of Adicet Bio in a research note on Wednesday, January 21st. Canaccord Genuity Group set a $18.00 target price on Adicet Bio and gave the company a “buy” rating in a research report on Tuesday, January 6th. Citigroup reiterated a “market perform” rating on shares of Adicet Bio in a report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Adicet Bio Stock Up 4.3%

NASDAQ ACET traded up $0.30 during trading hours on Friday, hitting $7.34. The company’s stock had a trading volume of 49,692 shares, compared to its average volume of 171,404. The company has a market capitalization of $70.32 million, a PE ratio of -0.36 and a beta of 1.56. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.01. Adicet Bio has a 52 week low of $6.41 and a 52 week high of $17.44. The company’s 50-day simple moving average is $7.66 and its two-hundred day simple moving average is $10.11.

Institutional Investors Weigh In On Adicet Bio

Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in Adicet Bio by 1.7% during the first 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 period. Wealthedge Investment Advisors LLC raised its stake in shares of Adicet Bio by 37.4% in the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after buying an additional 85,307 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Adicet Bio in the third quarter valued at $38,000. Two Sigma Investments LP lifted its position 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 valued at $692,000 after buying an additional 341,761 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Adicet Bio during the 3rd quarter valued at $65,000. 83.89% of the stock is currently owned by institutional investors.

Adicet Bio Company Profile

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.