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

Adicet Bio, Inc. (NASDAQ:ACET) has earned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $69.00.

ACET has been the topic of several analyst reports. Citigroup reaffirmed a “market perform” rating on shares of Adicet Bio in a report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research 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 report on Wednesday, January 21st. Finally, Canaccord Genuity Group set a $18.00 price objective on shares of Adicet Bio and gave the stock a “buy” rating in a research report on Tuesday, January 6th.

Hedge Funds Weigh In On Adicet Bio

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in shares of Adicet Bio by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after buying an additional 63,691 shares during the last quarter. Two Sigma Investments LP grew its position in shares of 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 buying an additional 341,761 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Adicet Bio during the 4th quarter worth $5,276,000. Citadel Advisors LLC raised its stake in Adicet Bio by 19.8% during the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock worth $473,000 after acquiring an additional 96,342 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC lifted its position in Adicet Bio by 37.4% in the second 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 last quarter. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

Adicet Bio Stock Down 2.3%

Adicet Bio stock opened at $7.29 on Monday. Adicet Bio has a twelve month low of $6.41 and a twelve month high of $17.44. The stock’s fifty day simple moving average is $7.72 and its 200-day simple moving average is $10.20. 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 has a market capitalization of $69.84 million, a P/E ratio of -0.36 and a beta of 1.56.

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 (??) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of ?? 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 ?? 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 ?? T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.