Adicet Bio, Inc. (NASDAQ:ACET) Given Average Rating of “Moderate Buy” by Analysts

Adicet Bio, Inc. (NASDAQ:ACET) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $56.25.

A number of research analysts recently commented on ACET shares. Canaccord Genuity Group set a $18.00 price target on shares of Adicet Bio and gave the company a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research report on Tuesday, January 27th. Truist Financial raised Adicet Bio to a “strong-buy” rating in a research note on Wednesday. HC Wainwright cut their target price on Adicet Bio from $50.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Guggenheim dropped their price objective on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, March 13th.

Adicet Bio Trading Down 2.8%

ACET traded down $0.19 during trading hours on Friday, hitting $6.54. The company’s stock had a trading volume of 18,003 shares, compared to its average volume of 162,200. The stock has a market cap of $62.80 million, a price-to-earnings ratio of -0.37 and a beta of 1.56. The business’s 50-day moving average price is $7.41 and its 200-day moving average price is $9.78. Adicet Bio has a 12 month low of $6.41 and a 12 month high of $17.44.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($2.94) EPS for the quarter, topping analysts’ consensus estimates of ($3.23) by $0.29. On average, analysts forecast that Adicet Bio will post -1.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ACET. Goldman Sachs Group Inc. grew its stake in shares of Adicet Bio by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock valued at $2,882,000 after buying an additional 63,691 shares during the last quarter. Wealthedge Investment Advisors LLC boosted its holdings in Adicet Bio by 37.4% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after acquiring an additional 85,307 shares during the period. Squarepoint Ops LLC purchased a new position in Adicet Bio during the 3rd quarter valued at $38,000. Two Sigma Investments LP grew 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 acquiring an additional 341,761 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Adicet Bio in the third quarter worth $65,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

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.