Guggenheim Issues Pessimistic Forecast for Adicet Bio (NASDAQ:ACET) Stock Price

Adicet Bio (NASDAQ:ACET) had its target price dropped by Guggenheim from $128.00 to $100.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a report on Tuesday, January 27th. Canaccord Genuity Group set a $18.00 price target on shares of Adicet Bio and gave the company a “buy” rating in a research note on Tuesday, January 6th. Citigroup reissued a “market perform” rating on shares of Adicet Bio in a research note on Wednesday, November 19th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

Adicet Bio Price Performance

ACET traded up $0.30 on Friday, hitting $7.34. 49,692 shares of the stock were exchanged, compared to its average volume of 171,404. The firm has a market capitalization of $70.32 million, a price-to-earnings ratio of -0.36 and a beta of 1.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.62 and a quick ratio of 5.62. Adicet Bio has a 12 month low of $6.41 and a 12 month high of $17.44. The business has a 50-day moving average of $7.66 and a two-hundred day moving average of $10.11.

Hedge Funds Weigh In On Adicet Bio

Several institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new position in shares of Adicet Bio during the fourth quarter worth approximately $51,000. Maven Securities LTD acquired a new stake in Adicet Bio in the 4th quarter valued at $263,000. Susquehanna International Group LLP bought a new stake in Adicet Bio during the 3rd quarter valued at $33,000. Squarepoint Ops LLC bought a new stake in Adicet Bio during the 3rd quarter valued at $38,000. Finally, Luminus Management LLC acquired a new position in Adicet Bio during the fourth quarter worth $501,000. 83.89% of the stock is owned by institutional investors and hedge funds.

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.