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

Adicet Bio, Inc. (NASDAQ:ACET) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $56.25.

ACET has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adicet Bio in a report on Tuesday, January 27th. Canaccord Genuity Group set a $18.00 target price on shares of Adicet Bio and gave the stock a “buy” rating in a report on Tuesday, January 6th. Truist Financial raised Adicet Bio to a “strong-buy” rating in a report on Wednesday, March 25th. HC Wainwright dropped their price target on Adicet Bio from $50.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Finally, Guggenheim cut their price target on Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, March 13th.

Adicet Bio Trading Up 1.6%

Shares of NASDAQ ACET opened at $6.99 on Friday. The business has a 50 day simple moving average of $7.26 and a 200-day simple moving average of $9.56. Adicet Bio has a twelve month low of $6.01 and a twelve month high of $17.44. The company has a market capitalization of $67.10 million, a price-to-earnings ratio of -0.39 and a beta of 1.57.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($2.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.23) by $0.29. As a group, equities analysts predict that Adicet Bio will post -1.39 earnings per share for the current year.

Hedge Funds Weigh In On Adicet Bio

Several hedge funds and other institutional investors have recently modified their holdings of ACET. FNY Investment Advisers LLC acquired a new stake in shares of Adicet Bio in the 4th quarter worth about $51,000. Maven Securities LTD acquired a new position in Adicet Bio during the 4th quarter valued at about $263,000. Susquehanna International Group LLP bought a new position in Adicet Bio in the 3rd quarter worth about $33,000. Squarepoint Ops LLC acquired a new stake in shares of Adicet Bio in the third quarter valued at approximately $38,000. Finally, Luminus Management LLC acquired a new stake in shares of Adicet Bio in the fourth quarter valued at approximately $501,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

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.