Adicet Bio, Inc. (NASDAQ:ACET) Receives Average Recommendation of “Moderate Buy” from Analysts

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

A number of equities analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a research note on Thursday. StockNews.com cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a report on Thursday, November 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th.

Institutional Investors Weigh In On Adicet Bio

A number of hedge funds have recently bought and sold shares of the company. Bridgeway Capital Management LLC boosted its holdings in Adicet Bio by 20.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock valued at $988,000 after acquiring an additional 175,000 shares during the period. Regeneron Pharmaceuticals Inc. bought a new stake in Adicet Bio during the fourth quarter valued at about $931,000. Two Sigma Advisers LP boosted its holdings in Adicet Bio by 12.4% during the fourth 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 during the period. Geode Capital Management LLC boosted its holdings in Adicet Bio by 14.5% during the third quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock valued at $1,107,000 after acquiring an additional 97,567 shares during the period. Finally, Stonepine Capital Management LLC boosted its holdings in Adicet Bio by 14.9% during the fourth quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock valued at $673,000 after acquiring an additional 90,554 shares during the period. 83.89% of the stock is currently owned by institutional investors.

Adicet Bio Trading Up 4.6 %

NASDAQ ACET opened at $0.90 on Monday. Adicet Bio has a 1-year low of $0.81 and a 1-year high of $2.54. The company has a market capitalization of $74.06 million, a PE ratio of -0.53 and a beta of 1.86. The firm’s fifty day simple moving average is $0.94 and its 200-day simple moving average is $1.17.

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.