Shares of Adicet Bio, Inc. (NASDAQ:ACET – Get Free Report) have been given an average rating of “Moderate Buy” by the nine brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $37.80.
Several equities research analysts have recently weighed in on ACET shares. Wall Street Zen lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research note on Friday, August 21st. Benchmark restated a “buy” rating on shares of Adicet Bio in a report on Tuesday, September 29th. HC Wainwright increased their target price on Adicet Bio from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, September 28th. Finally, Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a research note on Tuesday, September 1st.
Get Our Latest Stock Report on ACET
Adicet Bio Stock Down 0.9%
Shares of ACET opened at $4.53 on Tuesday. The stock has a market cap of $42.40 million, a price-to-earnings ratio of -0.40 and a beta of 1.62. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. Adicet Bio has a 12 month low of $4.39 and a 12 month high of $16.48. The company has a 50-day moving average price of $8.02 and a two-hundred day moving average price of $8.06.
Adicet Bio (NASDAQ:ACET – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.30). Equities analysts predict that Adicet Bio will post -6.76 EPS for the current fiscal year.
Institutional Investors Weigh In On Adicet Bio
A number of hedge funds have recently added to or reduced their stakes in ACET. Squarepoint Ops LLC bought a new position in shares of Adicet Bio in the second quarter worth about $132,000. AXQ Capital LP bought a new stake in shares of Adicet Bio during the second quarter valued at approximately $95,000. Regeneron Pharmaceuticals Inc. bought a new stake in shares of Adicet Bio during the second quarter valued at approximately $522,819. Johnson & Johnson bought a new stake in shares of Adicet Bio during the second quarter valued at approximately $196,811. Finally, NewEdge Advisors LLC bought a new stake in shares of Adicet Bio during the first quarter valued at approximately $26,000. Institutional investors own 83.89% of the company’s stock.
About Adicet Bio
Adicet Bio, Inc is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” T-cell therapies for cancer and autoimmune diseases. The company’s platform uses gamma delta T cells, a distinct type of immune cell that it engineers with chimeric antigen receptors (CARs) to recognize and attack diseased cells.
Adicet’s development programs have included ADI-001, an allogeneic gamma delta CAR T-cell therapy designed to target CD19 on B-cell malignancies, including certain forms of lymphoma.
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