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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $46.80.

Several analysts have recently commented on ACET shares. Guggenheim reaffirmed a “buy” rating and set a $90.00 price target (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Jefferies Financial Group started coverage on Adicet Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $19.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st. Finally, Wall Street Zen cut Adicet Bio from a “hold” rating to a “sell” rating in a report on Saturday.

Institutional Investors Weigh In On Adicet Bio

A number of institutional investors have recently made changes to their positions in ACET. NewEdge Advisors LLC acquired a new position in shares of Adicet Bio in the 1st quarter worth approximately $26,000. Dimensional Fund Advisors LP purchased a new stake in Adicet Bio in the first quarter valued at approximately $73,000. AXQ Capital LP purchased a new stake in Adicet Bio in the second quarter valued at approximately $95,000. Johnson & Johnson acquired a new position in Adicet Bio during the second quarter worth $196,811. Finally, Maven Securities LTD acquired a new position in Adicet Bio during the fourth quarter worth $263,000. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Adicet Bio Stock Performance

Shares of ACET opened at $9.06 on Monday. Adicet Bio has a 12-month low of $6.01 and a 12-month high of $17.44. The firm has a market capitalization of $84.80 million, a P/E ratio of -0.79 and a beta of 1.60. The firm has a 50-day moving average price of $8.62 and a 200 day moving average price of $7.91. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.01.

Adicet Bio (NASDAQ:ACET) last issued its earnings results on Wednesday, August 5th. The company reported ($1.99) EPS for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.30). Sell-side analysts forecast that Adicet Bio will post -6.76 EPS for the current year.

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.