Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.06 and traded as high as $9.68. Adicet Bio shares last traded at $9.53, with a volume of 118,981 shares changing hands.
Analyst Ratings Changes
A number of research analysts recently issued reports on ACET shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adicet Bio in a report on Friday, August 21st. Guggenheim restated a "buy" rating and issued a $90.00 target price (down from $100.00) on shares of Adicet Bio in a research note on Thursday, August 6th. Wall Street Zen downgraded Adicet Bio from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Finally, Jefferies Financial Group raised shares of Adicet Bio to a "strong-buy" rating in a research note on Tuesday, September 1st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Adicet Bio presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.80.
Get Our Latest Research Report on ACET
Adicet Bio Price Performance
The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $8.79 and a 200 day moving average price of $8.06. The company has a market capitalization of $89.20 million, a P/E ratio of -0.83 and a beta of 1.58.
Adicet Bio (NASDAQ:ACET - Get Free Report) last posted its quarterly earnings results 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). On average, equities analysts predict that Adicet Bio, Inc. will post -6.76 EPS for the current fiscal year.
Hedge Funds Weigh In On Adicet Bio
Several large investors have recently modified their holdings of ACET. NewEdge Advisors LLC acquired a new position in shares of Adicet Bio during the first quarter worth $26,000. Squarepoint Ops LLC lifted its stake in shares of Adicet Bio by 20.0% in the 4th quarter. Squarepoint Ops LLC now owns 55,723 shares of the company's stock valued at $469,000 after acquiring an additional 9,296 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Adicet Bio during the 1st quarter valued at $73,000. AXQ Capital LP acquired a new stake in shares of Adicet Bio during the 2nd quarter valued at $95,000. Finally, Johnson & Johnson bought a new stake in Adicet Bio during the 2nd quarter worth $196,811. 83.89% of the stock is owned by institutional investors.
About Adicet Bio
(
Get Free Report)
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.
Further Reading
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