Adicet Bio (NASDAQ:ACET) Upgraded to Strong-Buy at Jefferies Financial Group

Key Points

• Jefferies upgraded Adicet Bio to “strong buy,” though analyst sentiment remains mixed; the overall consensus is “Moderate Buy” with a $46.80 price target.
• Adicet Bio opened at $9.26, with shares trading between a one-year low of $6.01 and high of $17.44. The company reported a quarterly EPS loss of $1.99, missing the $1.69 consensus estimate.
• Institutional investors own 83.89% of the stock. Several hedge funds increased their positions, including Goldman Sachs, Two Sigma Investments and Citadel Advisors.

Adicet Bio (NASDAQ:ACET - Get Free Report) was upgraded by investment analysts at Jefferies Financial Group to a "strong-buy" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Several other equities analysts also recently commented on ACET. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adicet Bio in a report on Friday, August 21st. Wall Street Zen cut shares of Adicet Bio from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. Finally, Guggenheim reiterated a "buy" rating and issued a $90.00 price target (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $46.80.

Adicet Bio Price Performance

Shares of NASDAQ:ACET opened at $9.26 on Tuesday. The company has a 50 day moving average of $8.67 and a 200-day moving average of $7.95. The stock has a market cap of $86.67 million, a price-to-earnings ratio of -0.81 and a beta of 1.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. Adicet Bio has a one year low of $6.01 and a one year high of $17.44.

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

Institutional Investors Weigh In On Adicet Bio

Hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in Adicet Bio by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company's stock valued at $2,882,000 after purchasing an additional 63,691 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Adicet Bio during the third quarter valued at approximately $38,000. Two Sigma Investments LP raised its position in shares of Adicet Bio by 66.6% during the third quarter. Two Sigma Investments LP now owns 854,568 shares of the company's stock worth $692,000 after purchasing an additional 341,761 shares during the period. Virtu Financial LLC bought a new position in shares of Adicet Bio in the 3rd quarter worth $65,000. Finally, Citadel Advisors LLC grew its position in Adicet Bio by 19.8% in the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company's stock valued at $473,000 after purchasing an additional 96,342 shares during the period. 83.89% of the stock is currently owned by institutional investors.

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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