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

Shares of Adicet Bio, Inc. (NASDAQ:ACETGet Free Report) have earned an average recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $12.83.

ACET has been the subject of a number of research analyst reports. StockNews.com raised shares of Adicet Bio to a “sell” rating in a report on Friday, March 22nd. HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Adicet Bio in a research note on Wednesday, March 20th. Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a report on Wednesday, March 20th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $19.00 price objective on shares of Adicet Bio in a research report on Wednesday, March 20th.

Read Our Latest Stock Analysis on Adicet Bio

Insiders Place Their Bets

In other Adicet Bio news, Director Orbimed Advisors Llc bought 3,125,000 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were acquired at an average price of $2.40 per share, with a total value of $7,500,000.00. Following the transaction, the director now owns 7,526,359 shares of the company’s stock, valued at approximately $18,063,261.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 29.50% of the stock is owned by company insiders.

Institutional Trading of Adicet Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American International Group Inc. raised its position in shares of Adicet Bio by 15.1% in the 1st quarter. American International Group Inc. now owns 12,789 shares of the company’s stock worth $255,000 after acquiring an additional 1,675 shares in the last quarter. Rhumbline Advisers grew its stake in Adicet Bio by 4.9% in the first quarter. Rhumbline Advisers now owns 47,618 shares of the company’s stock valued at $274,000 after purchasing an additional 2,243 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Adicet Bio by 18.1% in the first quarter. JPMorgan Chase & Co. now owns 16,766 shares of the company’s stock worth $335,000 after purchasing an additional 2,564 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Adicet Bio by 25.8% during the fourth quarter. MetLife Investment Management LLC now owns 15,993 shares of the company’s stock valued at $143,000 after buying an additional 3,276 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Adicet Bio by 27.4% during the fourth quarter. AQR Capital Management LLC now owns 15,933 shares of the company’s stock valued at $142,000 after buying an additional 3,423 shares during the last quarter. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Stock Up 4.0 %

Shares of ACET opened at $2.33 on Thursday. Adicet Bio has a 52 week low of $1.10 and a 52 week high of $7.50. The stock has a market cap of $191.41 million, a price-to-earnings ratio of -0.70 and a beta of 1.87. The business has a 50-day simple moving average of $2.57 and a two-hundred day simple moving average of $1.93.

Adicet Bio (NASDAQ:ACETGet Free Report) last released its earnings results on Tuesday, March 19th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.03. On average, equities analysts anticipate that Adicet Bio will post -1.72 earnings per share for the current fiscal year.

Adicet Bio Company Profile

(Get Free Report

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 in pipeline includes ADI-001, which is in Phase I clinical trial for the treatment of non-Hodgkin's lymphoma.

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Analyst Recommendations for Adicet Bio (NASDAQ:ACET)

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