Adicet Bio (NASDAQ:ACET) Shares Up 4.5% – What’s Next?
by Renee Jackson · The Cerbat GemAdicet Bio, Inc. (NASDAQ:ACET – Get Free Report) was up 4.5% during trading on Tuesday . The company traded as high as $8.01 and last traded at $8.2290. Approximately 35,825 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 69,780 shares. The stock had previously closed at $7.8736.
Analyst Ratings Changes
ACET has been the subject of a number of analyst reports. Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a research report on Tuesday, October 7th. Wedbush restated an “outperform” rating and set a $80.00 price target on shares of Adicet Bio in a report on Thursday, November 6th. HC Wainwright upped their price objective on shares of Adicet Bio from $64.00 to $144.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Citigroup reiterated a “market perform” rating on shares of Adicet Bio in a research report on Wednesday, November 19th. Finally, Guggenheim lifted their target price on shares of Adicet Bio from $112.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.33.
Read Our Latest Analysis on ACET
Adicet Bio Trading Up 0.9%
The firm’s 50-day moving average price is $0.62 and its 200 day moving average price is $0.71. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -6.31 and a beta of 1.61. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.01.
Adicet Bio (NASDAQ:ACET – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported ($4.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.16) by ($0.48). As a group, equities analysts expect that Adicet Bio, Inc. will post -1.39 EPS for the current year.
Institutional Trading of Adicet Bio
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP acquired a new stake in Adicet Bio in the third quarter valued at approximately $33,000. Squarepoint Ops LLC acquired a new stake in Adicet Bio in the 3rd quarter valued at $38,000. Virtu Financial LLC acquired a new stake in Adicet Bio in the 3rd quarter valued at $65,000. Vontobel Holding Ltd. increased its stake in Adicet Bio by 33.3% during the 2nd quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock valued at $49,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC raised its holdings in Adicet Bio by 37.4% during the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock worth $191,000 after buying an additional 85,307 shares during the last quarter. 83.89% of the stock is 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.