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

Adicet Bio, Inc. (NASDAQ:ACET) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $69.00.

Several brokerages have issued reports on ACET. HC Wainwright reiterated a “buy” rating and set a $50.00 target price (up from $9.00) on shares of Adicet Bio in a research report on Wednesday, January 21st. Citigroup reaffirmed a “market perform” rating on shares of Adicet Bio in a research report on Wednesday, November 19th. Canaccord Genuity Group set a $18.00 price objective on Adicet Bio and gave the company a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a research report on Tuesday, January 27th. Finally, Wedbush reiterated an “outperform” rating and set a $80.00 price target on shares of Adicet Bio in a research note on Thursday, November 6th.

Adicet Bio Stock Down 2.1%

Shares of NASDAQ ACET traded down $0.16 during mid-day trading on Monday, reaching $7.10. The company had a trading volume of 13,829 shares, compared to its average volume of 185,642. The firm has a 50 day simple moving average of $7.79 and a two-hundred day simple moving average of $10.31. Adicet Bio has a 52-week low of $6.41 and a 52-week 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 stock has a market cap of $67.96 million, a P/E ratio of -0.35 and a beta of 1.58.

Institutional Trading of Adicet Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new stake in Adicet Bio during the 4th quarter worth approximately $51,000. Maven Securities LTD purchased a new stake in shares of Adicet Bio during the fourth quarter worth approximately $263,000. Susquehanna International Group LLP acquired a new stake in shares of Adicet Bio during the third quarter worth $33,000. Squarepoint Ops LLC purchased a new position in Adicet Bio in the 3rd quarter valued at $38,000. Finally, Luminus Management LLC acquired a new position in Adicet Bio in the 4th quarter valued at $501,000. 83.89% of the stock is owned by hedge funds and other institutional investors.

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 (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.