Brokerages Set Adicet Bio, Inc. (NASDAQ:ACET) Price Target at $7.50

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

Several research analysts recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. StockNews.com started coverage on Adicet Bio in a report on Friday. They issued a “hold” rating for the company. Guggenheim restated a “buy” rating and set a $7.00 price target on shares of Adicet Bio in a report on Friday, March 21st. Finally, HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research report on Friday, March 7th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new position in Adicet Bio in the 4th quarter valued at $29,000. Wealthedge Investment Advisors LLC purchased a new stake in shares of Adicet Bio during the fourth quarter valued at $71,000. JPMorgan Chase & Co. grew its holdings in shares of Adicet Bio by 10,321.9% in the third quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after purchasing an additional 79,582 shares during the last quarter. Northern Trust Corp increased 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 buying an additional 28,153 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Adicet Bio during the 4th quarter valued at about $177,000. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Stock Performance

ACET stock opened at $0.71 on Friday. The firm has a fifty day moving average price of $0.66 and a 200 day moving average price of $0.86. Adicet Bio has a fifty-two week low of $0.45 and a fifty-two week high of $1.71. The firm has a market cap of $58.37 million, a PE ratio of -0.41 and a beta of 1.76.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.03. On average, equities analysts predict that Adicet Bio will post -1.39 EPS for the current 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.