Adicet Bio (NASDAQ:ACET) Research Coverage Started at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. initiated coverage on shares of Adicet Bio (NASDAQ:ACETGet Rating) in a research note issued to investors on Wednesday, The Fly reports. The firm set an “overweight” rating and a $23.00 price target on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 68.37% from the stock’s current price.

Several other brokerages also recently commented on ACET. JMP Securities reiterated a “buy” rating and set a $21.00 target price on shares of Adicet Bio in a research note on Tuesday, June 7th. StockNews.com downgraded Adicet Bio from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. Truist Financial decreased their target price on Adicet Bio to $27.00 in a report on Tuesday, August 23rd. Finally, TheStreet cut Adicet Bio from a “c-” rating to a “d+” rating in a report on Wednesday, June 1st. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Adicet Bio presently has an average rating of “Moderate Buy” and an average target price of $27.43.

Adicet Bio Stock Down 4.4 %

Adicet Bio stock opened at $13.66 on Wednesday. The company has a market capitalization of $546.82 million, a P/E ratio of -9.97 and a beta of 2.29. The stock’s 50 day moving average is $15.88 and its 200 day moving average is $14.96. Adicet Bio has a twelve month low of $7.01 and a twelve month high of $21.17.

Adicet Bio (NASDAQ:ACETGet Rating) last posted its quarterly earnings results on Wednesday, August 10th. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.10). Adicet Bio had a negative return on equity of 16.98% and a negative net margin of 93.18%. As a group, equities analysts expect that Adicet Bio will post -1 EPS for the current year.

Insider Buying and Selling

In related news, CEO Chen Schor sold 8,094 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $16.51, for a total value of $133,631.94. Following the completion of the transaction, the chief executive officer now owns 66,747 shares of the company’s stock, valued at $1,101,992.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Blake Aftab sold 6,968 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $18.00, for a total transaction of $125,424.00. Following the transaction, the insider now directly owns 38,967 shares of the company’s stock, valued at $701,406. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Chen Schor sold 8,094 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $16.51, for a total value of $133,631.94. Following the transaction, the chief executive officer now directly owns 66,747 shares in the company, valued at $1,101,992.97. The disclosure for this sale can be found here. Insiders sold 91,292 shares of company stock valued at $1,534,604 over the last 90 days. Corporate insiders own 29.20% of the company’s stock.

Hedge Funds Weigh In On Adicet Bio

A number of large investors have recently made changes to their positions in ACET. Allianz Asset Management GmbH purchased a new stake in shares of Adicet Bio during the fourth quarter valued at $680,000. DAFNA Capital Management LLC grew its holdings in shares of Adicet Bio by 94.8% during the fourth quarter. DAFNA Capital Management LLC now owns 733,172 shares of the company’s stock valued at $12,823,000 after buying an additional 356,891 shares during the last quarter. Altium Capital Management LP grew its holdings in shares of Adicet Bio by 84.8% during the fourth quarter. Altium Capital Management LP now owns 263,000 shares of the company’s stock valued at $4,600,000 after buying an additional 120,711 shares during the last quarter. Virtus ETF Advisers LLC purchased a new stake in shares of Adicet Bio during the fourth quarter valued at $201,000. Finally, Laurion Capital Management LP grew its holdings in shares of Adicet Bio by 87.3% during the fourth quarter. Laurion Capital Management LP now owns 515,000 shares of the company’s stock valued at $9,007,000 after buying an additional 240,000 shares during the last quarter.

About Adicet Bio

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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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