Adicet Bio (NASDAQ:ACET) Price Target Raised to $34.00

Adicet Bio (NASDAQ:ACET) had its price objective boosted by HC Wainwright from $27.00 to $34.00 in a research note published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

ACET has been the subject of several other research reports. Guggenheim restated a “buy” rating and set a $90.00 price target (down from $100.00) on shares of Adicet Bio in a research note on Thursday, August 6th. Wall Street Zen raised Adicet Bio from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Jefferies Financial Group raised Adicet Bio to a “strong-buy” rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.80.

Adicet Bio Stock Up 4.5%

Shares of NASDAQ:ACET opened at $7.14 on Monday. Adicet Bio has a 1 year low of $6.01 and a 1 year high of $17.44. The company has a market capitalization of $66.83 million, a PE ratio of -0.62 and a beta of 1.58. The business has a fifty day moving average price of $8.76 and a two-hundred day moving average price of $8.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Wednesday, August 5th. The company reported ($1.99) EPS for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.30). Analysts forecast that Adicet Bio will post -6.76 earnings per share for the current year.

Institutional Investors Weigh In On Adicet Bio

Institutional investors have recently made changes to their positions in the stock. NEXTBio Capital Management LP bought a new stake in Adicet Bio during the fourth quarter valued at $1,329,000. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of Adicet Bio in the 2nd quarter valued at about $522,819. Maven Securities LTD purchased a new stake in shares of Adicet Bio in the 4th quarter valued at about $263,000. Rangeley Capital LLC boosted its position in shares of Adicet Bio by 124.0% during the 1st quarter. Rangeley Capital LLC now owns 56,000 shares of the company’s stock valued at $381,000 after acquiring an additional 30,999 shares during the last quarter. Finally, Johnson & Johnson purchased a new position in shares of Adicet Bio during the second quarter worth about $196,811. Hedge funds and other institutional investors own 83.89% of the company’s stock.

About Adicet Bio

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. Its platform is based on gamma delta T cells, a type of immune cell that may be engineered to recognize and attack tumor cells while potentially offering advantages associated with off-the-shelf cell therapies.

The company’s pipeline has included investigational CAR T-cell products designed to target specific cancer antigens, including ADI-001, an anti-CD19 therapy developed for B-cell malignancies.