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

Adicet Bio, Inc. (NASDAQ:ACET) has received an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $7.3333.

ACET has been the subject of several research analyst reports. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a research note on Thursday, November 6th. HC Wainwright increased their target price on shares of Adicet Bio from $4.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a report on Tuesday, October 7th. Guggenheim lifted their price target on shares of Adicet Bio from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Finally, Citigroup reissued a “market perform” rating on shares of Adicet Bio in a research report on Wednesday, November 19th.

Adicet Bio Stock Performance

NASDAQ:ACET opened at $0.49 on Wednesday. The company has a market cap of $75.66 million, a P/E ratio of -0.39 and a beta of 1.61. The firm’s 50 day moving average is $0.68 and its two-hundred day moving average is $0.72. Adicet Bio has a fifty-two week low of $0.45 and a fifty-two week high of $1.11. 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 announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.03). Analysts expect that Adicet Bio will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ACET. Susquehanna International Group LLP acquired a new position in shares of Adicet Bio during the third quarter worth about $33,000. Squarepoint Ops LLC purchased a new stake in shares of Adicet Bio during the 3rd quarter valued at about $38,000. Vontobel Holding Ltd. lifted its position in Adicet Bio by 33.3% during the 2nd quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after acquiring an additional 20,000 shares in the last quarter. Virtu Financial LLC purchased a new position in Adicet Bio in the 3rd quarter worth approximately $65,000. Finally, Wealthedge Investment Advisors LLC grew its position in Adicet Bio by 37.4% in the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after acquiring an additional 85,307 shares in the last quarter. 83.89% of the stock is owned by hedge funds and other institutional investors.

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.