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

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

Several equities research analysts have recently weighed in on ACET shares. Wall Street Zen upgraded Adicet Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. 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, Jefferies Financial Group initiated coverage on shares of Adicet Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $19.00 price objective for the company.

Adicet Bio Price Performance

Shares of NASDAQ ACET opened at $9.11 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.65 and a current ratio of 7.66. Adicet Bio has a fifty-two week low of $6.01 and a fifty-two week high of $17.44. The stock has a market cap of $85.18 million, a PE ratio of -0.61 and a beta of 1.60. The stock has a fifty day moving average of $8.37 and a 200-day moving average of $7.82.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.30). Equities research analysts anticipate that Adicet Bio will post -8.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC purchased a new position in shares of Adicet Bio in the 1st quarter worth about $26,000. FNY Investment Advisers LLC bought a new position in shares of Adicet Bio during the 4th quarter valued at about $51,000. Squarepoint Ops LLC raised its holdings in shares of Adicet Bio by 20.0% during the 4th quarter. Squarepoint Ops LLC now owns 55,723 shares of the company’s stock valued at $469,000 after buying an additional 9,296 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Adicet Bio during the 1st quarter valued at about $73,000. Finally, Rangeley Capital LLC lifted its position in Adicet Bio by 124.0% in the 1st quarter. Rangeley Capital LLC now owns 56,000 shares of the company’s stock worth $381,000 after buying an additional 30,999 shares during the last quarter. 83.89% of the stock is currently owned by hedge funds and other 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.