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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $48.80.

A number of research analysts have recently commented on ACET shares. Wall Street Zen raised shares of Adicet Bio from a “sell” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group started coverage on shares of Adicet Bio in a research report on Tuesday, May 5th. They set a “buy” rating and a $19.00 price objective for the company. Weiss Ratings lowered shares of Adicet Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday. Truist Financial upgraded shares of Adicet Bio to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Guggenheim decreased their target price on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, March 13th.

Insider Buying and Selling at Adicet Bio

In other Adicet Bio news, major shareholder Ra Capital Management, L.P. bought 74,751 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were acquired at an average cost of $7.27 per share, for a total transaction of $543,439.77. Following the transaction, the insider owned 1,182,624 shares in the company, valued at approximately $8,597,676.48. The trade was a 6.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders have bought 223,596 shares of company stock worth $1,603,934. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Adicet Bio

Several institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its position in shares of 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 acquiring an additional 63,691 shares in the last quarter. Two Sigma Investments LP boosted 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 acquiring an additional 341,761 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Adicet Bio during the 4th quarter valued at about $5,276,000. Citadel Advisors LLC lifted its holdings in Adicet Bio by 19.8% during the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock valued at $473,000 after purchasing an additional 96,342 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in Adicet Bio during the 4th quarter valued at about $2,310,000. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Adicet Bio Stock Performance

Shares of ACET opened at $7.68 on Friday. The company has a market capitalization of $71.81 million, a PE ratio of -0.52 and a beta of 1.50. Adicet Bio has a one year low of $6.01 and a one year high of $17.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.66 and a quick ratio of 7.47. The company’s fifty day moving average price is $7.42 and its 200 day moving average price is $8.23.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($1.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.93) by $1.05. As a group, analysts expect that Adicet Bio will post -10.26 earnings per share for the current year.

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.