Adicet Bio (NASDAQ:ACET) Stock Gets Price Target Boost from HC Wainwright

Key Points

• HC Wainwright raised Adicet Bio’s price target from $27 to $34 while maintaining a “buy” rating, implying 366.26% potential upside from the stock’s $7.29 price.
• Analyst sentiment is mixed but generally positive: the stock has a “Moderate Buy” consensus rating and an average price target of $48.20, though ratings range from “strong buy” to “sell.”
• Adicet Bio reported a quarterly loss of $1.99 per share, missing estimates of a $1.69 loss; analysts expect a full-year loss of $6.76 per share. Institutional investors own approximately 83.89% of the company.

Adicet Bio (NASDAQ:ACET - Get Free Report) had its price objective raised by research analysts at HC Wainwright from $27.00 to $34.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target would suggest a potential upside of 366.26% from the stock's current price.

Several other brokerages also recently weighed in on ACET. Guggenheim reaffirmed a "buy" rating and set a $90.00 price target (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Wall Street Zen raised Adicet Bio from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings restated a "sell (d-)" rating on shares of Adicet Bio in a research note on Friday, August 21st. Finally, Jefferies Financial Group raised Adicet Bio to a "strong-buy" rating in a report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.20.

Adicet Bio Stock Performance

NASDAQ ACET traded down $1.73 on Monday, hitting $7.29. 935,725 shares of the company's stock traded hands, compared to its average volume of 135,404. The firm's 50-day moving average price is $8.85 and its two-hundred day moving average price is $8.19. The firm has a market capitalization of $68.26 million, a PE ratio of -0.62 and a beta of 1.58. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.01. Adicet Bio has a 1-year low of $6.01 and a 1-year high of $17.44.

Adicet Bio (NASDAQ:ACET - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.99) earnings per share for the quarter, missing analysts' consensus estimates of ($1.69) by ($0.30). As a group, analysts expect that Adicet Bio will post -6.76 EPS for the current year.

Hedge Funds Weigh In On Adicet Bio

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC purchased a new position in Adicet Bio during the first quarter worth approximately $26,000. Dimensional Fund Advisors LP purchased a new stake in shares of Adicet Bio in the first quarter valued at approximately $73,000. AXQ Capital LP purchased a new stake in shares of Adicet Bio in the second quarter valued at approximately $95,000. Squarepoint Ops LLC acquired a new position in shares of Adicet Bio during the 2nd quarter worth approximately $132,000. Finally, Johnson & Johnson acquired a new position in shares of Adicet Bio during the 2nd quarter worth approximately $196,811. Hedge funds and other institutional investors own 83.89% of the company's stock.

Adicet Bio Company Profile

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. Its platform is based on gamma delta T cells, a type of immune cell that may be engineered to recognize and attack tumor cells while potentially offering advantages associated with off-the-shelf cell therapies.

The company's pipeline has included investigational CAR T-cell products designed to target specific cancer antigens, including ADI-001, an anti-CD19 therapy developed for B-cell malignancies.

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