Adicet Bio, Inc. (NASDAQ:ACET) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

ACET has been the subject of several research analyst reports. HC Wainwright lowered their target price on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Wall Street Zen upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Jefferies Financial Group initiated coverage on shares of Adicet Bio in a report on Tuesday, May 5th. They issued a “buy” rating and a $19.00 target price for the company. Truist Financial upgraded shares of Adicet Bio to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Guggenheim lowered their target price on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating for the company in a report on Friday, March 13th.

Get Our Latest Analysis on ACET

Institutional Trading of Adicet Bio

Institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP raised its position in Adicet Bio by 66.6% in the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock valued at $692,000 after purchasing an additional 341,761 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in Adicet Bio in the 4th quarter valued at $1,083,000. Prosight Management LP purchased a new stake in Adicet Bio in the 4th quarter valued at $2,107,000. Goldman Sachs Group Inc. raised its position in Adicet Bio by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock valued at $2,882,000 after purchasing an additional 63,691 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new stake in Adicet Bio in the 4th quarter valued at $5,276,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Trading Up 1.2%

NASDAQ ACET opened at $7.31 on Wednesday. The firm has a 50 day moving average of $7.74 and a two-hundred day moving average of $7.83. Adicet Bio has a 52 week low of $6.01 and a 52 week high of $17.44. The company has a quick ratio of 7.65, a current ratio of 7.66 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $68.35 million, a PE ratio of -0.49 and a beta of 1.56.

Adicet Bio (NASDAQ:ACETGet Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($1.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.93) by $1.05. As a group, research analysts expect that Adicet Bio will post -8.61 EPS for the current fiscal year.

Adicet Bio Company Profile

(Get Free Report)

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.

Read More

Analyst Recommendations for Adicet Bio (NASDAQ:ACET)

Receive News & Ratings for Adicet Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adicet Bio and related companies with MarketBeat.com's FREE daily email newsletter.