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

Key Points

• Adicet Bio has a “Moderate Buy” consensus rating from eight analysts, with five buys, one strong buy, one hold and one sell. The average 12-month price target is $48.80, well above the recent share price of $8.54.
• Institutional investors have been active in the stock, including new positions from Franklin Resources, Adage Capital and others; hedge funds and institutions collectively own 83.89% of Adicet Bio.
• Adicet reported a quarterly loss of $1.88 per share, beating the consensus estimate of a $2.93 loss. The clinical-stage biotechnology company is developing allogeneic gamma delta T-cell therapies, led by its ADI-001 candidate for relapsed or refractory B-cell malignancies.

Shares of Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eight ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $48.80.

A number of brokerages have recently commented on ACET. Wall Street Zen upgraded Adicet Bio from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Jefferies Financial Group initiated coverage on 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, Weiss Ratings upgraded Adicet Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, May 26th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. purchased a new stake in shares of Adicet Bio in the 4th quarter valued at approximately $5,276,000. Two Sigma Investments LP raised its stake in Adicet Bio by 66.6% during 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 period. Adage Capital Partners GP L.L.C. acquired a new stake in Adicet Bio during the 4th quarter valued at $2,310,000. Prosight Management LP purchased a new stake in shares of Adicet Bio in the fourth quarter valued at $2,107,000. Finally, NEXTBio Capital Management LP acquired a new stake in shares of Adicet Bio in the fourth quarter worth $1,329,000. 83.89% of the stock is owned by hedge funds and other institutional investors.

Adicet Bio Price Performance

Shares of ACET traded up $0.24 during mid-day trading on Thursday, hitting $8.54. The company's stock had a trading volume of 3,690 shares, compared to its average volume of 130,443. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.66 and a quick ratio of 7.65. The firm has a 50-day moving average price of $8.28 and a 200 day moving average price of $7.78. Adicet Bio has a fifty-two week low of $6.01 and a fifty-two week high of $17.44. The stock has a market capitalization of $79.86 million, a price-to-earnings ratio of -0.57 and a beta of 1.58.

Adicet Bio (NASDAQ:ACET - Get Free Report) last released its earnings results on Wednesday, May 13th. The company reported ($1.88) EPS for the quarter, beating the consensus estimate of ($2.93) by $1.05. On average, research analysts predict that Adicet Bio will post -8.61 EPS for the current fiscal year.

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.

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