Adicet Bio, Inc. (NASDAQ:ACET) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Adicet Bio, with four buy ratings, two strong-buy ratings, one hold, and one sell. The average 12-month price target is $46.80.
• Adicet Bio shares fell 1.9% to $8.87, remaining well below the analyst target range, while the company reported a quarterly loss of $1.99 per share—$0.30 worse than consensus estimates.
• Institutional investors own 83.89% of the stock, with several funds—including Regeneron Pharmaceuticals—recently establishing new positions.

Shares of Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) have been given an average rating of "Moderate Buy" by the eight brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $46.80.

A number of research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Adicet Bio to a "strong-buy" rating in a research note on Tuesday, September 1st. Guggenheim reissued a "buy" rating and issued a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Adicet Bio in a report on Friday, August 21st. Finally, Wall Street Zen cut shares of Adicet Bio from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th.

Adicet Bio Stock Down 1.9%

ACET stock traded down $0.18 during midday trading on Friday, hitting $8.87. The company's stock had a trading volume of 4,547 shares, compared to its average volume of 127,477. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. Adicet Bio has a 52-week low of $6.01 and a 52-week high of $17.44. The firm has a market capitalization of $83.06 million, a P/E ratio of -0.78 and a beta of 1.58. The firm has a 50-day simple moving average of $8.81 and a 200-day simple moving average of $8.12.

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

Institutional Trading of Adicet Bio

A number of institutional investors have recently bought and sold shares of ACET. NEXTBio Capital Management LP acquired a new stake in shares of Adicet Bio during the 4th quarter worth about $1,329,000. Regeneron Pharmaceuticals Inc. purchased a new position in Adicet Bio in the second quarter valued at approximately $522,819. Squarepoint Ops LLC purchased a new position in Adicet Bio in the second quarter valued at approximately $132,000. AXQ Capital LP acquired a new stake in Adicet Bio during the second quarter worth approximately $95,000. Finally, NewEdge Advisors LLC acquired a new stake in Adicet Bio during the first quarter worth approximately $26,000. 83.89% of the stock is owned by hedge funds and other institutional investors.

About Adicet Bio

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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