Analysts Set Adicet Bio, Inc. (NASDAQ:ACET) PT at $92.50

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $92.50.

ACET has been the topic of several recent analyst reports. Guggenheim increased their price target on Adicet Bio from $112.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Citigroup reiterated a “market perform” rating on shares of Adicet Bio in a research note on Wednesday, November 19th. Jefferies Financial Group raised shares of Adicet Bio to a “strong-buy” rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adicet Bio in a research note on Thursday, October 30th. Finally, Wedbush reiterated an “outperform” rating and set a $80.00 price objective on shares of Adicet Bio in a report on Thursday, November 6th.

Institutional Investors Weigh In On Adicet Bio

A number of institutional investors and hedge funds have recently bought and sold shares of ACET. FNY Investment Advisers LLC bought a new position in shares of Adicet Bio during the 4th quarter worth $51,000. Susquehanna International Group LLP bought a new position in Adicet Bio during the 3rd quarter worth about $33,000. Citadel Advisors LLC grew its holdings in Adicet Bio by 19.8% during the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock worth $473,000 after acquiring an additional 96,342 shares in the last quarter. Virtu Financial LLC purchased a new position in Adicet Bio during the 3rd quarter valued at about $65,000. Finally, Two Sigma Investments LP raised its holdings in shares of Adicet Bio by 66.6% in the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock valued at $692,000 after purchasing an additional 341,761 shares in the last quarter. 83.89% of the stock is owned by institutional investors.

Adicet Bio Price Performance

Adicet Bio stock opened at $8.28 on Friday. Adicet Bio has a 12-month low of $7.15 and a 12-month high of $17.44. 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 50-day moving average price of $8.75 and a 200-day moving average price of $11.12. The firm has a market capitalization of $79.31 million, a PE ratio of -0.41 and a beta of 1.60.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data 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, equities research analysts forecast that Adicet Bio will post -1.39 EPS for the current year.

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.