Adicet Bio, Inc. (NASDAQ:ACET) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Adicet Bio, Inc. has received a consensus rating of “Moderate Buy” from five brokerages, with a 12-month price target averaging $5.33.
• Recent analyst ratings include a strong buy from HC Wainwright with a price target of $4.00 and a buy from Guggenheim with a price objective of $7.00.
• Adicet Bio's stock is currently trading at $0.83, with a market capitalization of approximately $69.47 million and a recent earnings report showing a loss of ($0.34) per share.

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) has been given a consensus rating of "Moderate Buy" by the five ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $5.3333.

A number of equities analysts have recently weighed in on the company. HC Wainwright raised Adicet Bio to a "strong-buy" rating and set a $4.00 target price on the stock in a research report on Wednesday, July 23rd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Adicet Bio in a report on Saturday, September 27th. Finally, Guggenheim reissued a "buy" rating and issued a $7.00 price objective on shares of Adicet Bio in a research report on Friday, September 19th.

Institutional Trading of Adicet Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACET. Squarepoint Ops LLC bought a new position in Adicet Bio during the 4th quarter valued at about $177,000. Wealthedge Investment Advisors LLC raised its holdings in Adicet Bio by 208.8% in the 1st 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. Goldman Sachs Group Inc. grew its position in shares of Adicet Bio by 1.7% during the 1st 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 during the period. Acadian Asset Management LLC lifted its stake in Adicet Bio by 1.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company's stock valued at $1,538,000 after acquiring an additional 36,277 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in Adicet Bio by 33.3% in the 2nd quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company's stock valued at $49,000 after acquiring an additional 20,000 shares during the period. 83.89% of the stock is owned by institutional investors and hedge funds.

Adicet Bio Stock Up 0.8%

Shares of NASDAQ:ACET traded up $0.01 on Friday, reaching $0.83. 896,961 shares of the company's stock were exchanged, compared to its average volume of 412,684. The business's 50-day moving average is $0.74 and its two-hundred day moving average is $0.71. The firm has a market capitalization of $69.47 million, a price-to-earnings ratio of -0.64 and a beta of 1.62. Adicet Bio has a fifty-two week low of $0.45 and a fifty-two week high of $1.54.

Adicet Bio (NASDAQ:ACET - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.02). Analysts predict that Adicet Bio will post -1.39 earnings per share for the current fiscal 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.

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