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

Adicet Bio, Inc. (NASDAQ:ACET) has received an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $7.50.

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

Adicet Bio Stock Performance

Shares of ACET stock opened at $0.83 on Friday. Adicet Bio has a fifty-two week low of $0.74 and a fifty-two week high of $2.43. The firm has a market cap of $68.65 million, a P/E ratio of -0.49 and a beta of 1.97. The business’s 50 day moving average price is $0.89 and its 200-day moving average price is $1.08.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.05. As a group, equities analysts predict that Adicet Bio will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ACET. Bridgeway Capital Management LLC raised its holdings in 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 during 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 increased its holdings in shares of Adicet Bio by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock worth $1,107,000 after purchasing an additional 97,567 shares in the last quarter. Finally, Stonepine Capital Management LLC raised its stake in shares of Adicet Bio by 14.9% in the fourth 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 during the last quarter. Institutional investors own 83.89% of the company’s stock.

About Adicet Bio

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.