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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $69.00.

ACET has been the topic of a number of recent research reports. Canaccord Genuity Group set a $18.00 price target on shares of Adicet Bio and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Wedbush reaffirmed an “outperform” rating and set a $80.00 target price on shares of Adicet Bio in a research note on Thursday, November 6th. HC Wainwright reiterated a “buy” rating and set a $50.00 target price (up from $9.00) on shares of Adicet Bio in a report on Wednesday, January 21st. Citigroup restated a “market perform” rating on shares of Adicet Bio in a research note on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a report on Tuesday, January 27th.

Institutional Investors Weigh In On Adicet Bio

A number of hedge funds and other institutional investors have recently modified their holdings of ACET. Susquehanna International Group LLP purchased a new position in Adicet Bio in the third quarter valued at $33,000. Squarepoint Ops LLC purchased a new position in shares of Adicet Bio in the 3rd quarter valued at about $38,000. FNY Investment Advisers LLC acquired a new stake in shares of Adicet Bio during the 4th quarter worth about $51,000. Virtu Financial LLC purchased a new stake in Adicet Bio during the third quarter worth approximately $65,000. Finally, Wealthedge Investment Advisors LLC boosted its holdings in 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 purchasing an additional 85,307 shares in the last quarter. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Adicet Bio Trading Down 2.1%

Shares of Adicet Bio stock traded down $0.16 on Monday, reaching $7.10. The company had a trading volume of 13,829 shares, compared to its average volume of 185,642. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.62 and a current ratio of 5.62. The firm’s 50 day moving average price is $7.79 and its two-hundred day moving average price is $10.31. Adicet Bio has a 52-week low of $6.41 and a 52-week high of $17.44. The firm has a market cap of $67.96 million, a PE ratio of -0.35 and a beta of 1.58.

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.