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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $48.80.

ACET has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Truist Financial raised shares of Adicet Bio to a “strong-buy” rating in a research note on Wednesday, March 25th. Guggenheim lowered their price target on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. HC Wainwright lowered their price target on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. Finally, Weiss Ratings raised shares of Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th.

Hedge Funds Weigh In On Adicet Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its stake 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 worth $2,882,000 after purchasing an additional 63,691 shares during the period. Two Sigma Investments LP grew its stake 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. acquired a new position in shares of Adicet Bio during the 4th quarter worth $5,276,000. Citadel Advisors LLC grew its stake in shares of Adicet Bio by 19.8% during the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock worth $473,000 after purchasing an additional 96,342 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Adicet Bio during the 4th quarter worth $2,310,000. 83.89% of the stock is owned by institutional investors and hedge funds.

Adicet Bio Stock Up 1.2%

ACET stock opened at $7.31 on Wednesday. The company has a fifty day moving average price of $7.74 and a 200 day moving average price of $7.83. Adicet Bio has a 12 month low of $6.01 and a 12 month high of $17.44. The company has a market cap of $68.35 million, a price-to-earnings ratio of -0.49 and a beta of 1.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.66 and a quick ratio of 7.65.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($1.88) EPS for the quarter, topping analysts’ consensus estimates of ($2.93) by $1.05. Sell-side analysts expect that Adicet Bio will post -8.61 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.