Adicet Bio, Inc. (NASDAQ:ACET) Receives $12.83 Average PT from Analysts

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $12.83.

A number of equities analysts have recently issued reports on ACET shares. StockNews.com upgraded Adicet Bio to a “sell” rating in a research note on Friday, March 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Adicet Bio in a report on Tuesday, April 2nd. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $19.00 target price on shares of Adicet Bio in a report on Wednesday, March 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a report on Tuesday.

Adicet Bio Price Performance

ACET stock opened at $1.68 on Monday. The company has a market cap of $138.05 million, a P/E ratio of -0.51 and a beta of 1.88. Adicet Bio has a 1 year low of $1.10 and a 1 year high of $7.50. The stock’s fifty day moving average price is $2.26 and its 200-day moving average price is $2.03.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Tuesday, March 19th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.03. As a group, analysts expect that Adicet Bio will post -1.72 earnings per share for the current year.

Institutional Investors Weigh In On Adicet Bio

A number of institutional investors and hedge funds have recently bought and sold shares of ACET. Acadian Asset Management LLC raised its holdings in Adicet Bio by 2,182.5% during the third quarter. Acadian Asset Management LLC now owns 523,009 shares of the company’s stock valued at $715,000 after acquiring an additional 500,095 shares during the period. Acuitas Investments LLC bought a new stake in Adicet Bio during the third quarter valued at about $187,000. Panagora Asset Management Inc. bought a new stake in Adicet Bio during the fourth quarter valued at about $98,000. Exchange Traded Concepts LLC raised its holdings in Adicet Bio by 107.5% during the third quarter. Exchange Traded Concepts LLC now owns 61,196 shares of the company’s stock valued at $84,000 after acquiring an additional 31,706 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Adicet Bio by 30.3% during the third quarter. Bank of New York Mellon Corp now owns 131,393 shares of the company’s stock valued at $180,000 after acquiring an additional 30,529 shares during the period. 83.89% of the stock is owned by institutional investors.

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.