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

Adicet Bio, Inc. (NASDAQ:ACET) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, 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 issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $46.80.

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Adicet Bio from a “hold” rating to a “sell” rating in a research note on Saturday, August 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a research note on Friday, August 21st. Jefferies Financial Group raised Adicet Bio to a “strong-buy” rating in a report on Tuesday, September 1st. Finally, Guggenheim restated a “buy” rating and set a $90.00 target price (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th.

Adicet Bio Stock Performance

ACET traded down $0.18 on Friday, reaching $8.87. The company had a trading volume of 4,547 shares, compared to its average volume of 127,477. 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 1 year low of $6.01 and a 1 year high of $17.44. The stock has a market capitalization of $83.06 million, a PE ratio of -0.78 and a beta of 1.58. The stock has a 50-day moving average price of $8.81 and a 200-day moving average price of $8.12.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.69) by ($0.30). As a group, research analysts forecast that Adicet Bio will post -6.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. NEXTBio Capital Management LP purchased a new stake in Adicet Bio in the 4th quarter worth approximately $1,329,000. Regeneron Pharmaceuticals Inc. purchased a new position in shares of Adicet Bio during the 2nd quarter worth $522,819. Maven Securities LTD purchased a new position in shares of Adicet Bio during the 4th quarter worth $263,000. Rangeley Capital LLC boosted its holdings in shares of Adicet Bio by 124.0% during the first quarter. Rangeley Capital LLC now owns 56,000 shares of the company’s stock worth $381,000 after purchasing an additional 30,999 shares during the last quarter. Finally, Johnson & Johnson acquired a new stake in shares of Adicet Bio during the second quarter worth $196,811. 83.89% of the stock is currently owned by institutional investors and hedge funds.

About Adicet Bio

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. Its platform is based on gamma delta T cells, a type of immune cell that may be engineered to recognize and attack tumor cells while potentially offering advantages associated with off-the-shelf cell therapies.

The company’s pipeline has included investigational CAR T-cell products designed to target specific cancer antigens, including ADI-001, an anti-CD19 therapy developed for B-cell malignancies.