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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $46.80.

A number of brokerages have weighed in on ACET. Wall Street Zen raised shares of Adicet Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Jefferies Financial Group started coverage on shares of Adicet Bio in a research note on Tuesday, May 5th. They issued a “buy” rating and a $19.00 target price for the company. Guggenheim reiterated a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th.

Adicet Bio Stock Performance

NASDAQ ACET traded down $0.46 during trading on Monday, hitting $8.92. The company’s stock had a trading volume of 11,759 shares, compared to its average volume of 126,424. Adicet Bio has a 52 week low of $6.01 and a 52 week high of $17.44. The firm has a market cap of $83.49 million, a P/E ratio of -0.78 and a beta of 1.60. The firm has a 50 day moving average price of $8.52 and a 200 day moving average price of $7.84. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01.

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

Institutional Investors Weigh In On Adicet Bio

Institutional investors have recently bought and sold shares of the business. AXQ Capital LP acquired a new position in shares of Adicet Bio in the 2nd quarter valued at $95,000. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Adicet Bio during the 2nd quarter valued at about $522,819,000. Johnson & Johnson bought a new stake in Adicet Bio in the second quarter valued at about $196,811,000. NewEdge Advisors LLC bought a new stake in Adicet Bio in the first quarter valued at about $26,000. Finally, Rangeley Capital LLC lifted its stake 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 purchasing an additional 30,999 shares during the period. Institutional investors and hedge funds own 83.89% of the company’s stock.

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.