Adicet Bio (NASDAQ:ACET) Rating Reiterated by Wedbush

Adicet Bio (NASDAQ:ACET)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a research report issued on Tuesday, Benzinga reports. They presently have a $5.00 price objective on the stock. Wedbush’s target price would indicate a potential upside of 166.67% from the company’s previous close.

Several other brokerages have also recently weighed in on ACET. Canaccord Genuity Group reaffirmed a “buy” rating and set a $19.00 target price on shares of Adicet Bio in a research note on Wednesday, March 20th. StockNews.com raised Adicet Bio to a “sell” rating in a research note on Friday, March 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Adicet Bio in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.83.

Adicet Bio Stock Performance

Shares of ACET opened at $1.88 on Tuesday. The firm has a market capitalization of $154.07 million, a price-to-earnings ratio of -0.56 and a beta of 1.88. Adicet Bio has a one year low of $1.10 and a one year high of $7.50. The stock’s fifty day moving average is $2.31 and its 200-day moving average is $2.02.

Adicet Bio (NASDAQ:ACET) last announced its earnings results on Tuesday, March 19th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.03. Analysts forecast that Adicet Bio will post -1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

A number of institutional investors have recently bought and sold shares of ACET. Summit Trail Advisors LLC raised its stake in shares of Adicet Bio by 80.0% in the 3rd quarter. Summit Trail Advisors LLC now owns 18,000 shares of the company’s stock valued at $25,000 after acquiring an additional 8,000 shares in the last quarter. Marquette Asset Management LLC acquired a new stake in Adicet Bio in the 3rd quarter valued at $39,000. Exchange Traded Concepts LLC boosted its stake in Adicet Bio by 107.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 61,196 shares of the company’s stock valued at $84,000 after buying an additional 31,706 shares in the last quarter. Panagora Asset Management Inc. acquired a new stake in Adicet Bio in the 4th quarter valued at $98,000. Finally, Bank of New York Mellon Corp boosted its stake in Adicet Bio by 30.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 131,393 shares of the company’s stock valued at $180,000 after buying an additional 30,529 shares in the last quarter. 83.89% of the stock is currently owned by institutional investors and hedge funds.

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.