Adicet Bio (NASDAQ:ACET) Upgraded by Jefferies Financial Group to “Strong-Buy” Rating

Jefferies Financial Group upgraded shares of Adicet Bio (NASDAQ:ACET) to a strong-buy rating in a research report report published on Tuesday morning,Zacks reports.

ACET has been the subject of a number of other reports. Guggenheim reaffirmed a “buy” rating and issued a $90.00 target price (down from $100.00) on shares of Adicet Bio in a research note on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st. Finally, Wall Street Zen lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.80.

Adicet Bio Price Performance

ACET stock opened at $9.26 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. The business has a 50 day simple moving average of $8.67 and a 200-day simple moving average of $7.95. The firm has a market capitalization of $86.67 million, a PE ratio of -0.81 and a beta of 1.58. Adicet Bio has a 1 year low of $6.01 and a 1 year high of $17.44.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.99) EPS for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.30). Equities research analysts anticipate that Adicet Bio will post -6.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adicet Bio

Hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC acquired a new stake in shares of Adicet Bio during the 1st quarter worth about $26,000. Dimensional Fund Advisors LP purchased a new position in Adicet Bio during the first quarter worth about $73,000. AXQ Capital LP acquired a new stake in shares of Adicet Bio during the second quarter valued at about $95,000. Johnson & Johnson acquired a new stake in shares of Adicet Bio during the second quarter valued at about $196,811. Finally, Maven Securities LTD purchased a new stake in shares of Adicet Bio in the 4th quarter valued at approximately $263,000. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

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.