Adicet Bio (NASDAQ:ACET) Shares Up 4.5% – What’s Next?

Adicet Bio, Inc. (NASDAQ:ACET) was up 4.5% during mid-day trading on Tuesday . The company traded as high as $8.01 and last traded at $8.2290. Approximately 35,825 shares traded hands during trading, a decline of 49% from the average daily volume of 69,780 shares. The stock had previously closed at $7.8736.

Analysts Set New Price Targets

A number of research firms recently weighed in on ACET. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a report on Thursday, October 30th. Wedbush reissued an “outperform” rating and set a $80.00 price objective on shares of Adicet Bio in a report on Thursday, November 6th. HC Wainwright raised their target price on Adicet Bio from $64.00 to $144.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Adicet Bio in a research report on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $117.33.

Adicet Bio Stock Up 0.9%

The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $1.22 billion, a P/E ratio of -6.31 and a beta of 1.61. The stock’s 50-day simple moving average is $0.62 and its 200-day simple moving average is $0.71.

Adicet Bio (NASDAQ:ACET) last announced its earnings results on Wednesday, November 5th. The company reported ($4.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.16) by ($0.48). As a group, research analysts predict that Adicet Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new stake in shares of Adicet Bio during the 3rd quarter worth $33,000. Squarepoint Ops LLC purchased a new stake in Adicet Bio during the third quarter worth about $38,000. Vontobel Holding Ltd. increased its holdings in Adicet Bio by 33.3% during the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after buying an additional 20,000 shares during the last quarter. Virtu Financial LLC bought a new stake in Adicet Bio in the third quarter worth about $65,000. Finally, Wealthedge Investment Advisors LLC boosted its stake in Adicet Bio by 37.4% in the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after acquiring an additional 85,307 shares during the last quarter. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Company Profile

Adicet Bio, Inc (NASDAQ: ACET) is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of γδ 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 γδ 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 γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.