Guggenheim Issues Pessimistic Forecast for Adicet Bio (NASDAQ:ACET) Stock Price

Adicet Bio (NASDAQ:ACET) had its target price lowered by analysts at Guggenheim from $128.00 to $100.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock.

Other equities research analysts also recently issued reports about the stock. Canaccord Genuity Group set a $18.00 price objective on shares of Adicet Bio and gave the company a “buy” rating in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adicet Bio in a research report on Tuesday, January 27th. Citigroup reiterated a “market perform” rating on shares of Adicet Bio in a research note on Wednesday, November 19th. Finally, HC Wainwright reissued a “buy” rating and issued a $50.00 target price (up from $9.00) on shares of Adicet Bio in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Adicet Bio Stock Up 2.4%

ACET stock opened at $7.21 on Friday. The company’s 50 day moving average price is $7.63 and its 200 day moving average price is $10.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.62 and a current ratio of 5.62. Adicet Bio has a fifty-two week low of $6.41 and a fifty-two week high of $17.44. The firm has a market capitalization of $69.07 million, a price-to-earnings ratio of -0.40 and a beta of 1.56.

Adicet Bio (NASDAQ:ACET) last issued its earnings results on Thursday, March 12th. The company reported ($2.94) earnings per share for the quarter, beating the consensus estimate of ($3.23) by $0.29. On average, equities research analysts anticipate that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Trading of Adicet Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC acquired a new position in shares of Adicet Bio in the 4th quarter valued at $51,000. Maven Securities LTD purchased a new position in shares of Adicet Bio in the 4th quarter valued at $263,000. Susquehanna International Group LLP acquired a new stake in Adicet Bio during the 3rd quarter worth $33,000. Squarepoint Ops LLC acquired a new stake in Adicet Bio during the 3rd quarter worth $38,000. Finally, Luminus Management LLC purchased a new stake in Adicet Bio in the fourth quarter valued at $501,000. 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.