Adicet Bio (NASDAQ:ACET) Price Target Cut to $100.00 by Analysts at Guggenheim

Adicet Bio (NASDAQ:ACET) had its target price reduced by Guggenheim from $128.00 to $100.00 in a research note published on Friday morning, Marketbeat reports. They currently have a buy rating on the stock.

A number of other brokerages have also commented on ACET. HC Wainwright restated a “buy” rating and set a $50.00 price objective (up from $9.00) on shares of Adicet Bio in a research report on Wednesday, January 21st. Citigroup reiterated a “market perform” rating on shares of Adicet Bio in a report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research report on Tuesday, January 27th. Finally, Canaccord Genuity Group set a $18.00 price target on shares of Adicet Bio and gave the stock a “buy” rating in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Adicet Bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Adicet Bio Price Performance

ACET opened at $7.21 on Friday. The stock has a fifty day moving average of $7.63 and a 200-day moving average of $10.08. The firm has a market capitalization of $69.07 million, a P/E ratio of -0.40 and a beta of 1.56. Adicet Bio has a 12-month low of $6.41 and a 12-month high of $17.44. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.01.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($2.94) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.23) by $0.29. Equities analysts forecast that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Trading of Adicet Bio

A number of institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Adicet Bio by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock valued at $2,882,000 after purchasing an additional 63,691 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Adicet Bio by 66.6% during the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock valued at $692,000 after buying an additional 341,761 shares during the last quarter. Franklin Resources Inc. acquired a new stake in shares of Adicet Bio during the 4th quarter valued at about $5,276,000. Citadel Advisors LLC grew its stake in shares of Adicet Bio by 19.8% in the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock valued at $473,000 after buying an additional 96,342 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC grew its stake in shares of Adicet Bio by 37.4% in the 2nd quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after buying an additional 85,307 shares in the last quarter. Institutional investors and hedge funds 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.