Adicet Bio, Inc. (NASDAQ:ACET) Receives Average Rating of “Moderate Buy” from Brokerages

Adicet Bio, Inc. (NASDAQ:ACET) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, Marketbeat.com reports. Two research 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 analysts that have issued a report on the stock in the last year is $7.50.

Several equities research analysts have weighed in on the stock. Wall Street Zen initiated coverage on shares of Adicet Bio in a research note on Friday, May 16th. They issued a “hold” rating for the company. Guggenheim reiterated a “buy” rating and set a $7.00 price objective on shares of Adicet Bio in a report on Friday, March 21st. Finally, HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research report on Friday, March 7th.

Institutional Trading of Adicet Bio

Several large investors have recently bought and sold shares of ACET. JPMorgan Chase & Co. raised its holdings in shares of Adicet Bio by 87.3% in the fourth quarter. JPMorgan Chase & Co. now owns 150,485 shares of the company’s stock worth $145,000 after buying an additional 70,132 shares during the last quarter. Regeneron Pharmaceuticals Inc. acquired a new position in shares of Adicet Bio in the 4th quarter valued at $931,000. Norges Bank purchased a new position in Adicet Bio in the 4th quarter worth $413,000. Northern Trust Corp raised 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 acquiring an additional 28,153 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Adicet Bio during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Price Performance

Shares of ACET stock opened at $0.82 on Wednesday. The stock’s 50-day moving average is $0.64 and its 200 day moving average is $0.82. Adicet Bio has a 1-year low of $0.45 and a 1-year high of $1.70. The company has a market cap of $67.82 million, a P/E ratio of -0.48 and a beta of 1.67.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.03. On average, analysts anticipate that Adicet Bio will post -1.39 EPS for the current year.

Adicet Bio Company Profile

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.