Adicet Bio, Inc. (ACET) – What Are Analysts Saying About This Stock?

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $37.80.

ACET has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating on shares of Adicet Bio in a report on Tuesday, September 29th. Jefferies Financial Group raised Adicet Bio to a “strong-buy” rating in a research report on Tuesday, September 1st. Wedbush reissued an “outperform” rating and issued a $28.00 price objective (up from $25.00) on shares of Adicet Bio in a research report on Monday, September 28th. HC Wainwright boosted their target price on Adicet Bio from $27.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st.

Institutional Trading of Adicet Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Regeneron Pharmaceuticals Inc. acquired a new stake in Adicet Bio during the 2nd quarter worth about $522,819. Rangeley Capital LLC grew its holdings in 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 acquiring an additional 30,999 shares during the period. Johnson & Johnson purchased a new position in Adicet Bio during the second quarter valued at approximately $196,811. Squarepoint Ops LLC purchased a new position in Adicet Bio during the second quarter valued at approximately $132,000. Finally, AXQ Capital LP purchased a new position in Adicet Bio during the second quarter valued at approximately $95,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

Adicet Bio Stock Up 4.5%

NASDAQ:ACET traded up $0.13 during trading hours on Friday, reaching $3.05. The company’s stock had a trading volume of 254,019 shares, compared to its average volume of 212,502. The company has a market capitalization of $28.55 million, a P/E ratio of -0.36 and a beta of 1.69. Adicet Bio has a 12 month low of $2.87 and a 12 month high of $11.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.71 and a current ratio of 6.71. The stock has a 50 day moving average price of $6.55 and a two-hundred day moving average price of $7.56.

Adicet Bio (NASDAQ:ACET) last announced its earnings results on Thursday, November 5th. The company reported ($1.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.20). Equities analysts predict that Adicet Bio will post -6.76 EPS for the current fiscal year.

About Adicet Bio

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. The company’s platform is focused on genetically engineered gamma delta T cells, an immune-cell type that can recognize and attack abnormal cells while potentially offering advantages for off-the-shelf cell therapy development.

Adicet’s product candidates are designed to incorporate chimeric antigen receptors and other modifications intended to improve tumor targeting, persistence, and activity.