Adicet Bio, Inc. (NASDAQ:ACET) Stock Has Consensus Target Price of $46.80 According to Brokerages

Adicet Bio, Inc. (NASDAQ:ACET) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $46.80.

Several analysts have recently commented on the company. Wall Street Zen cut Adicet Bio from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st. Guggenheim reaffirmed a “buy” rating and set a $90.00 target price (down from $100.00) on shares of Adicet Bio in a research note on Thursday, August 6th. Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a report on Tuesday, September 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $27.00 price target on shares of Adicet Bio in a research report on Friday, September 18th.

Institutional Investors Weigh In On Adicet Bio

A number of institutional investors have recently modified their holdings of the stock. NEXTBio Capital Management LP acquired a new position in shares of Adicet Bio in the fourth quarter worth $1,329,000. Regeneron Pharmaceuticals Inc. purchased a new position in Adicet Bio in the second quarter valued at about $522,819. Rangeley Capital LLC grew its stake in Adicet Bio by 124.0% in the first quarter. Rangeley Capital LLC now owns 56,000 shares of the company’s stock valued at $381,000 after purchasing an additional 30,999 shares in the last quarter. Maven Securities LTD acquired a new position in Adicet Bio in the 4th quarter worth about $263,000. Finally, Johnson & Johnson acquired a new position in Adicet Bio in the 2nd quarter worth about $196,811. Institutional investors and hedge funds own 83.89% of the company’s stock.

Adicet Bio Stock Performance

Shares of ACET opened at $8.27 on Friday. The company has a 50-day moving average of $8.83 and a two-hundred day moving average of $8.18. The stock has a market cap of $77.42 million, a price-to-earnings ratio of -0.72 and a beta of 1.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. Adicet Bio has a one year low of $6.01 and a one year high of $17.44.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.99) EPS for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.30). On average, equities research analysts expect that Adicet Bio will post -6.76 earnings per share for the current year.

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.