Brokerages Set Adicet Bio, Inc. (NASDAQ:ACET) PT at $7.33

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $7.3333.

Several equities research analysts have recently issued reports on ACET shares. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a report on Thursday, November 6th. Jefferies Financial Group raised shares of Adicet Bio to a “strong-buy” rating in a research report on Tuesday, October 7th. Citigroup reissued a “market perform” rating on shares of Adicet Bio in a research report on Wednesday, November 19th. Guggenheim increased their price target on shares of Adicet Bio from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adicet Bio in a research note on Thursday, October 30th.

Hedge Funds Weigh In On Adicet Bio

Several large investors have recently made changes to their positions in ACET. Two Sigma Investments LP boosted its holdings in Adicet Bio by 66.6% in the 3rd 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 period. Wealthedge Investment Advisors LLC raised its position in shares of Adicet Bio by 208.8% during the first quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company’s stock valued at $172,000 after buying an additional 154,037 shares during the last quarter. Citadel Advisors LLC lifted its stake in shares of Adicet Bio by 19.8% in the third 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 during the period. Virtu Financial LLC acquired a new stake in Adicet Bio during the third quarter worth about $65,000. Finally, Goldman Sachs Group Inc. grew its position in Adicet Bio by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after buying an additional 63,691 shares in the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.

Adicet Bio Trading Up 1.6%

NASDAQ:ACET opened at $0.61 on Friday. 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 has a 1-year low of $0.45 and a 1-year high of $1.19. The firm has a market capitalization of $93.83 million, a price-to-earnings ratio of -0.49 and a beta of 1.61. The stock has a fifty day simple moving average of $0.80 and a 200 day simple moving average of $0.74.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Sell-side analysts forecast that Adicet Bio will post -1.39 earnings per share for the current year.

About Adicet Bio

Adicet Bio, Inc, a clinical stage biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. The company offers gamma delta T cells engineered with chimeric antigen receptors (CARs) to facilitate durable activity in patients. Its lead product candidate is ADI-001, an allogeneic gamma delta T cell therapy expressing a CAR targeting CD20, which is in Phase I clinical trial for the treatment of autoimmune diseases and relapsed or refractory aggressive B cell non-Hodgkin's lymphoma.