Adicet Bio, Inc. (NASDAQ:ACET) Receives Average Rating of “Moderate Buy” from Brokerages

Adicet Bio, Inc. (NASDAQ:ACET) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $69.00.

ACET has been the topic of a number of analyst reports. Canaccord Genuity Group set a $18.00 price objective on Adicet Bio and gave the company a “buy” rating in a research note on Tuesday, January 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a report on Tuesday, January 27th. HC Wainwright restated a “buy” rating and issued a $50.00 price objective (up from $9.00) on shares of Adicet Bio in a research report on Wednesday, January 21st. Citigroup reaffirmed a “market perform” rating on shares of Adicet Bio in a report on Wednesday, November 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $80.00 target price on shares of Adicet Bio in a research note on Thursday, November 6th.

Hedge Funds Weigh In On Adicet Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP bought a new position in Adicet Bio in the 3rd quarter worth about $33,000. Squarepoint Ops LLC purchased a new position in shares of Adicet Bio during the third quarter worth about $38,000. Vontobel Holding Ltd. increased its position in shares of Adicet Bio by 33.3% in the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after purchasing an additional 20,000 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in Adicet Bio in the fourth quarter valued at approximately $51,000. Finally, Virtu Financial LLC purchased a new stake in Adicet Bio in the third quarter valued at approximately $65,000. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

Adicet Bio Stock Performance

Shares of ACET stock opened at $6.81 on Thursday. The stock has a market capitalization of $65.24 million, a P/E ratio of -0.34 and a beta of 1.58. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $8.04 and its 200 day moving average is $10.64. Adicet Bio has a 12 month low of $6.41 and a 12 month high of $17.44.

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.