Analysts Set Adicet Bio, Inc. (NASDAQ:ACET) Target Price at $29.67

Adicet Bio, Inc. (NASDAQ:ACETGet Rating) has earned a consensus recommendation of “Buy” from the twelve analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $29.67.

A number of research firms have commented on ACET. Truist Financial began coverage on shares of Adicet Bio in a research note on Tuesday, March 8th. They issued a “buy” rating and a $30.00 price target for the company. StockNews.com began coverage on shares of Adicet Bio in a research note on Thursday, March 31st. They issued a “sell” rating for the company. Sumitomo Mitsui Financial Group began coverage on shares of Adicet Bio in a research note on Thursday, March 31st. They issued an “outperform” rating and a $28.00 price target for the company. Jefferies Financial Group started coverage on shares of Adicet Bio in a research note on Friday, March 4th. They issued a “buy” rating and a $27.00 price target for the company. Finally, JMP Securities cut their price objective on shares of Adicet Bio from $30.00 to $21.00 and set a “market outperform” rating for the company in a research note on Thursday, March 17th.

In related news, Director Aya Jakobovits sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $14.83, for a total transaction of $59,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Francesco Galimi sold 7,621 shares of the company’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $21.00, for a total transaction of $160,041.00. Following the sale, the senior vice president now owns 59,917 shares of the company’s stock, valued at $1,258,257. The disclosure for this sale can be found here. Insiders have sold a total of 27,600 shares of company stock valued at $499,160 over the last quarter. 33.90% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Johnson & Johnson bought a new position in Adicet Bio in the 3rd quarter worth $5,715,000. Abingworth LLP raised its holdings in Adicet Bio by 31.0% in the 4th quarter. Abingworth LLP now owns 2,115,385 shares of the company’s stock worth $36,892,000 after purchasing an additional 500,000 shares in the last quarter. DAFNA Capital Management LLC raised its holdings in Adicet Bio by 94.8% in the 4th quarter. DAFNA Capital Management LLC now owns 733,172 shares of the company’s stock worth $12,823,000 after purchasing an additional 356,891 shares in the last quarter. Sofinnova Investments Inc. bought a new position in Adicet Bio in the 4th quarter worth $5,439,000. Finally, Laurion Capital Management LP raised its holdings in Adicet Bio by 87.3% in the 4th quarter. Laurion Capital Management LP now owns 515,000 shares of the company’s stock worth $9,007,000 after purchasing an additional 240,000 shares in the last quarter. Institutional investors own 68.55% of the company’s stock.

ACET stock opened at $16.91 on Friday. The firm has a 50 day moving average of $15.57 and a 200-day moving average of $13.03. Adicet Bio has a 12 month low of $6.25 and a 12 month high of $21.17.

Adicet Bio (NASDAQ:ACETGet Rating) last announced its earnings results on Tuesday, March 15th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.03). The business had revenue of $5.47 million for the quarter, compared to analyst estimates of $4.65 million. Equities research analysts predict that Adicet Bio will post -1.02 EPS for the current year.

Adicet Bio Company Profile (Get Rating)

Adicet Bio, Inc, a biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for cancer and other diseases. The company offers gamma delta T cells engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and enhance persistence for durable activity in patients.

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