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

Adicet Bio, Inc. (NASDAQ:ACET) has been given an average rating of “Moderate Buy” by the five brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.50.

Several equities research analysts have commented on ACET shares. Guggenheim reaffirmed a “buy” rating and set a $7.00 price objective on shares of Adicet Bio in a report on Friday, March 21st. HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research note on Friday, March 7th. StockNews.com upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a research note on Monday. Finally, JMP Securities restated a “market perform” rating on shares of Adicet Bio in a research note on Thursday, February 6th.

Institutional Trading of Adicet Bio

Institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Adicet Bio in the 4th quarter worth approximately $29,000. Wealthedge Investment Advisors LLC purchased a new stake in Adicet Bio in the 4th quarter worth approximately $71,000. JPMorgan Chase & Co. lifted its stake in Adicet Bio by 10,321.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after purchasing an additional 79,582 shares in the last quarter. Northern Trust Corp lifted its stake in Adicet Bio by 25.1% in the 4th quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock worth $135,000 after purchasing an additional 28,153 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in Adicet Bio in the 4th quarter worth approximately $177,000. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

Adicet Bio Price Performance

Shares of Adicet Bio stock opened at $0.62 on Tuesday. Adicet Bio has a 1 year low of $0.45 and a 1 year high of $1.87. The firm has a market cap of $51.27 million, a PE ratio of -0.36 and a beta of 1.99. The stock has a fifty day moving average price of $0.73 and a 200-day moving average price of $0.95.

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

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.