Adicet Bio, Inc. (NASDAQ:ACET) Receives $7.50 Consensus PT from Brokerages

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $7.50.

ACET has been the subject of several research reports. JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a research note on Thursday, February 6th. Guggenheim reiterated a “buy” rating and set a $7.00 target price on shares of Adicet Bio in a report on Friday, March 21st. Finally, HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research note on Friday, March 7th.

Institutional Trading of Adicet Bio

Institutional investors and hedge funds have recently bought and sold shares of the company. Bridgeway Capital Management LLC lifted its stake in shares of Adicet Bio by 20.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock worth $988,000 after buying an additional 175,000 shares in the last quarter. Regeneron Pharmaceuticals Inc. bought a new position in Adicet Bio in the 4th quarter valued at approximately $931,000. Two Sigma Advisers LP lifted its position in Adicet Bio by 12.4% in the 4th quarter. Two Sigma Advisers LP now owns 794,039 shares of the company’s stock valued at $764,000 after acquiring an additional 87,400 shares in the last quarter. Geode Capital Management LLC boosted its stake in Adicet Bio by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock valued at $1,107,000 after purchasing an additional 97,567 shares during the last quarter. Finally, Stonepine Capital Management LLC increased its holdings in shares of Adicet Bio by 14.9% in the 4th quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock worth $673,000 after purchasing an additional 90,554 shares in the last quarter. 83.89% of the stock is currently owned by institutional investors.

Adicet Bio Stock Performance

Shares of NASDAQ:ACET opened at $0.74 on Friday. Adicet Bio has a 52-week low of $0.74 and a 52-week high of $2.40. The firm has a market capitalization of $60.77 million, a P/E ratio of -0.43 and a beta of 1.97. The stock has a 50 day moving average price of $0.88 and a 200-day moving average price of $1.07.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05. On average, equities analysts forecast that Adicet Bio will post -1.39 EPS for the current fiscal year.

Adicet Bio Company Profile

Adicet Bio, Inc, a clinical stage biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. The company offers gamma delta T cells engineered with chimeric antigen receptors (CARs) to facilitate durable activity in patients. Its lead product candidate is ADI-001, an allogeneic gamma delta T cell therapy expressing a CAR targeting CD20, which is in Phase I clinical trial for the treatment of autoimmune diseases and relapsed or refractory aggressive B cell non-Hodgkin's lymphoma.