Adicet Bio, Inc. (NASDAQ:ACET) Receives $48.80 Consensus PT from Brokerages

Adicet Bio, Inc. (NASDAQ:ACET) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $48.80.

Several brokerages recently weighed in on ACET. Weiss Ratings raised Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Truist Financial raised Adicet Bio to a “strong-buy” rating in a report on Wednesday, March 25th. Wall Street Zen raised Adicet Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. HC Wainwright lowered their target price on Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Finally, Jefferies Financial Group began coverage on Adicet Bio in a report on Tuesday, May 5th. They set a “buy” rating and a $19.00 target price for the company.

Hedge Funds Weigh In On Adicet Bio

Several institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in shares of Adicet Bio by 1.7% during 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 during the last quarter. Two Sigma Investments LP grew its holdings in shares of Adicet Bio by 66.6% during the third 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 during the last quarter. Franklin Resources Inc. bought a new position in Adicet Bio in the 4th quarter worth approximately $5,276,000. Citadel Advisors LLC grew its holdings in Adicet Bio by 19.8% in the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock worth $473,000 after buying an additional 96,342 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new position in Adicet Bio in the 4th quarter worth approximately $2,310,000. 83.89% of the stock is owned by institutional investors.

Adicet Bio Price Performance

Shares of Adicet Bio stock opened at $8.05 on Wednesday. The company has a quick ratio of 7.65, a current ratio of 7.66 and a debt-to-equity ratio of 0.01. The firm has a market cap of $75.27 million, a P/E ratio of -0.54 and a beta of 1.56. Adicet Bio has a fifty-two week low of $6.01 and a fifty-two week high of $17.44. The business has a 50-day moving average price of $7.80 and a 200 day moving average price of $7.79.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($1.88) earnings per share for the quarter, beating the consensus estimate of ($2.93) by $1.05. On average, sell-side analysts forecast that Adicet Bio will post -8.61 earnings per share for the current fiscal year.

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.