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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been given an average rating of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $46.80.

A number of research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a research note on Tuesday, September 1st. Guggenheim reissued 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. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a report on Friday, August 21st. Finally, Wall Street Zen cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th.

Adicet Bio Stock Down 1.9%

ACET stock traded down $0.18 during midday trading on Friday, hitting $8.87. The company’s stock had a trading volume of 4,547 shares, compared to its average volume of 127,477. 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 has a 52-week low of $6.01 and a 52-week high of $17.44. The firm has a market capitalization of $83.06 million, a P/E ratio of -0.78 and a beta of 1.58. The firm has a 50-day simple moving average of $8.81 and a 200-day simple moving average of $8.12.

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

Institutional Trading of Adicet Bio

A number of institutional investors have recently bought and sold shares of ACET. NEXTBio Capital Management LP acquired a new stake in shares of Adicet Bio during the 4th quarter worth about $1,329,000. Regeneron Pharmaceuticals Inc. purchased a new position in Adicet Bio in the second quarter valued at approximately $522,819. Squarepoint Ops LLC purchased a new position in Adicet Bio in the second quarter valued at approximately $132,000. AXQ Capital LP acquired a new stake in Adicet Bio during the second quarter worth approximately $95,000. Finally, NewEdge Advisors LLC acquired a new stake in Adicet Bio during the first quarter worth approximately $26,000. 83.89% of the stock is owned by hedge funds and other institutional investors.

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.