Brokerages Set Adicet Bio, Inc. (NASDAQ:ACET) PT at $69.00

Adicet Bio, Inc. (NASDAQ:ACET) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $69.00.

Several research firms recently issued reports on ACET. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a research note on Tuesday, January 27th. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target (up from $9.00) on shares of Adicet Bio in a report on Wednesday, January 21st. Wedbush restated an “outperform” rating and issued a $80.00 target price on shares of Adicet Bio in a report on Thursday, November 6th. Canaccord Genuity Group set a $18.00 price target on Adicet Bio and gave the stock a “buy” rating in a report on Tuesday, January 6th. Finally, Citigroup reissued a “market perform” rating on shares of Adicet Bio in a research report on Wednesday, November 19th.

Adicet Bio Price Performance

ACET opened at $7.57 on Monday. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $72.52 million, a price-to-earnings ratio of -0.38 and a beta of 1.56. Adicet Bio has a 12-month low of $6.41 and a 12-month high of $17.44. The business’s fifty day simple moving average is $7.75 and its 200-day simple moving average is $10.25.

Hedge Funds Weigh In On Adicet Bio

Several large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its position 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 acquiring an additional 63,691 shares during the last quarter. Two Sigma Investments LP increased 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 last quarter. Franklin Resources Inc. purchased a new position in shares of Adicet Bio during the fourth quarter worth $5,276,000. Citadel Advisors LLC grew its position in Adicet Bio by 19.8% in the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock valued at $473,000 after acquiring an additional 96,342 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC increased its position in shares of Adicet Bio by 37.4% during the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock worth $191,000 after acquiring an additional 85,307 shares during the period. 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.