Adicet Bio, Inc. (NASDAQ:ACET) Given Average Recommendation of “Moderate Buy” by Brokerages

Adicet Bio, Inc. (NASDAQ:ACET) has received an average rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $48.80.

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Adicet Bio from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings downgraded shares of Adicet Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Jefferies Financial Group started coverage on shares of Adicet Bio in a report on Tuesday, May 5th. They set a “buy” rating and a $19.00 price target for the company. HC Wainwright dropped their target price on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Finally, Guggenheim dropped their target price on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, March 13th.

Insider Buying and Selling at Adicet Bio

In related news, major shareholder Ra Capital Management, L.P. bought 74,751 shares of the company’s stock in a transaction on Friday, February 20th. The stock was bought at an average cost of $7.27 per share, with a total value of $543,439.77. Following the completion of the purchase, the insider owned 1,182,624 shares in the company, valued at approximately $8,597,676.48. The trade was a 6.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought 223,596 shares of company stock valued at $1,603,934 over the last ninety days. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Adicet Bio

Institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP bought a new position in shares of Adicet Bio in the third quarter worth about $33,000. Squarepoint Ops LLC bought a new position in shares of Adicet Bio in the third quarter worth about $38,000. FNY Investment Advisers LLC bought a new position in shares of Adicet Bio in the fourth quarter worth about $51,000. Virtu Financial LLC bought a new position in shares of Adicet Bio in the third quarter worth about $65,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of Adicet Bio in the first quarter worth about $73,000. 83.89% of the stock is owned by institutional investors.

Adicet Bio Trading Down 8.7%

Shares of ACET stock opened at $7.68 on Friday. Adicet Bio has a 12-month low of $6.01 and a 12-month high of $17.44. The company has a market capitalization of $71.81 million, a P/E ratio of -0.52 and a beta of 1.50. The firm has a 50-day moving average price of $7.42 and a 200 day moving average price of $8.23. The company has a quick ratio of 7.47, a current ratio of 7.66 and a debt-to-equity ratio of 0.01.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($1.88) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.93) by $1.05. Research analysts forecast that Adicet Bio will post -10.26 earnings per share for the current fiscal year.

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.