Adicet Bio (NASDAQ:ACET – Get Free Report) was upgraded by Jefferies Financial Group to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks reports.
Other equities research analysts have also issued research reports about the company. Wall Street Zen lowered Adicet Bio from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Guggenheim reissued a “buy” rating and set a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a report on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Adicet Bio has a consensus rating of “Moderate Buy” and an average price target of $46.80.
Read Our Latest Research Report on Adicet Bio
Adicet Bio Price Performance
Adicet Bio (NASDAQ:ACET – Get Free Report) last posted its quarterly earnings data 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). On average, equities analysts predict that Adicet Bio will post -6.76 EPS for the current fiscal year.
Hedge Funds Weigh In On Adicet Bio
Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. bought a new stake in shares of Adicet Bio in the 4th quarter worth approximately $5,276,000. Two Sigma Investments LP boosted its holdings in Adicet Bio by 66.6% in the third quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock valued at $692,000 after acquiring an additional 341,761 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Adicet Bio during the 4th quarter valued at $2,310,000. Prosight Management LP bought a new position in Adicet Bio in the 4th quarter worth $2,107,000. Finally, NEXTBio Capital Management LP purchased a new stake in shares of Adicet Bio in the 4th quarter worth about $1,329,000. 83.89% of the stock is owned by 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.
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