HC Wainwright Forecasts Strong Price Appreciation for Adicet Bio (NASDAQ:ACET) Stock

Adicet Bio (NASDAQ:ACET) had its target price upped by analysts at HC Wainwright from $27.00 to $34.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 397.80% from the stock’s current price.

ACET has been the topic of a number of other reports. Wall Street Zen upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a report on Saturday. Guggenheim reissued a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research note on Friday, August 21st. Finally, Jefferies Financial Group raised shares of Adicet Bio to a “strong-buy” rating in a report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.80.

Adicet Bio Stock Performance

Shares of NASDAQ ACET opened at $6.83 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.71 and a current ratio of 6.71. The stock has a 50 day moving average price of $8.79 and a 200 day moving average price of $8.17. The stock has a market capitalization of $63.93 million, a PE ratio of -0.60 and a beta of 1.58. Adicet Bio has a 52 week low of $6.01 and a 52 week high of $17.44.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.99) earnings per share for the quarter, missing the consensus estimate of ($1.69) by ($0.30). Analysts predict that Adicet Bio will post -6.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adicet Bio

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new position in shares of Adicet Bio in the second quarter valued at approximately $132,000. AXQ Capital LP acquired a new stake in Adicet Bio during the 2nd quarter worth approximately $95,000. Regeneron Pharmaceuticals Inc. bought a new stake in Adicet Bio in the 2nd quarter valued at $522,819. Johnson & Johnson bought a new stake in Adicet Bio in the 2nd quarter valued at $196,811. Finally, NewEdge Advisors LLC bought a new stake in Adicet Bio in the 1st quarter valued at $26,000. 83.89% of the stock is owned by institutional investors.

Adicet Bio Company Profile

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. Its platform is based on gamma delta T cells, a type of immune cell that may be engineered to recognize and attack tumor cells while potentially offering advantages associated with off-the-shelf cell therapies.

The company’s pipeline has included investigational CAR T-cell products designed to target specific cancer antigens, including ADI-001, an anti-CD19 therapy developed for B-cell malignancies.