Adicet Bio, Inc. (NASDAQ:ACET) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give Adicet Bio a “Moderate Buy” consensus rating: Five analysts recommend buying the stock, one recommends a strong buy, while one rates it a hold and one a sell. The average 12-month price target is $46.80.
• Institutional ownership is substantial: Institutional investors and hedge funds own 83.89% of ACET, including a newly acquired stake by Johnson & Johnson valued at approximately $196.8 million.
• The stock remains financially challenged: Shares recently traded at $8.92, down 4.9%, while Adicet reported a quarterly loss of $1.99 per share, missing the $1.69 consensus estimate.

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $46.80.

ACET has been the topic of several analyst reports. Weiss Ratings upgraded shares of Adicet Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, May 26th. Guggenheim reiterated a "buy" rating and issued a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a report on Thursday, August 6th. Jefferies Financial Group initiated coverage on shares of Adicet Bio in a research report on Tuesday, May 5th. They set a "buy" rating and a $19.00 target price on the stock. Finally, Wall Street Zen raised Adicet Bio from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th.

Institutional Trading of Adicet Bio

A number of institutional investors and hedge funds have recently modified their holdings of ACET. NewEdge Advisors LLC acquired a new position in Adicet Bio in the 1st quarter valued at $26,000. Dimensional Fund Advisors LP bought a new stake in Adicet Bio during the first quarter valued at about $73,000. AXQ Capital LP bought a new stake in Adicet Bio during the second quarter valued at about $95,000. Johnson & Johnson acquired a new stake in shares of Adicet Bio in the second quarter valued at about $196,811,000. Finally, Maven Securities LTD acquired a new stake in shares of Adicet Bio in the fourth quarter valued at about $263,000. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Adicet Bio Stock Down 4.9%

ACET traded down $0.46 during trading on Monday, reaching $8.92. 11,759 shares of the stock traded hands, compared to its average volume of 126,424. Adicet Bio has a fifty-two week low of $6.01 and a fifty-two week high of $17.44. The stock's 50-day simple moving average is $8.52 and its two-hundred day simple moving average is $7.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. The stock has a market cap of $83.49 million, a price-to-earnings ratio of -0.78 and a beta of 1.60.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.99) EPS for the quarter, missing the consensus estimate of ($1.69) by ($0.30). As a group, equities research analysts expect that Adicet Bio will post -6.76 EPS for the current 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.

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