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

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

ACET has been the topic of several recent analyst reports. Truist Financial raised Adicet Bio to a “strong-buy” rating in a research note on Wednesday, March 25th. Jefferies Financial Group began coverage on shares of Adicet Bio in a report on Tuesday, May 5th. They set a “buy” rating and a $19.00 price objective for the company. Guggenheim reduced their price objective 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. Weiss Ratings upgraded shares of Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Finally, HC Wainwright cut their target price on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, March 23rd.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC purchased a new stake in shares of Adicet Bio in the first quarter worth about $26,000. FNY Investment Advisers LLC bought a new stake in Adicet Bio in the 4th quarter worth approximately $51,000. Dimensional Fund Advisors LP bought a new stake in Adicet Bio in the 1st quarter worth approximately $73,000. Maven Securities LTD purchased a new stake in shares of Adicet Bio during the 4th quarter worth approximately $263,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Adicet Bio during the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Price Performance

Shares of ACET stock remained flat at $9.00 during trading hours on Friday. The stock had a trading volume of 101,107 shares, compared to its average volume of 79,345. Adicet Bio has a 12-month low of $6.01 and a 12-month high of $17.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.65 and a current ratio of 7.66. The stock has a market cap of $84.15 million, a P/E ratio of -0.60 and a beta of 1.58. The stock’s 50-day moving average price is $8.10 and its 200-day moving average price is $7.73.

Adicet Bio (NASDAQ:ACET) last released its 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. Sell-side analysts predict that Adicet Bio will post -8.61 EPS for the current year.

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.