Adicet Bio, Inc. (NASDAQ:ACET) Receives $5.33 Consensus Target Price from Brokerages

Adicet Bio, Inc. (NASDAQ:ACET) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $5.3333.

ACET has been the topic of several recent analyst reports. HC Wainwright raised shares of Adicet Bio to a “strong-buy” rating and set a $4.00 target price on the stock in a research report on Wednesday, July 23rd. Guggenheim reaffirmed a “buy” rating and set a $7.00 price target on shares of Adicet Bio in a research report on Friday, September 19th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Adicet Bio in a report on Saturday, September 27th.

Adicet Bio Price Performance

NASDAQ ACET opened at $0.83 on Friday. The company has a fifty day moving average price of $0.74 and a 200-day moving average price of $0.70. The firm has a market cap of $69.47 million, a price-to-earnings ratio of -0.64 and a beta of 1.62. Adicet Bio has a 1 year low of $0.45 and a 1 year high of $1.54.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). On average, research analysts anticipate that Adicet Bio will post -1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Adicet Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vontobel Holding Ltd. increased its holdings in Adicet Bio by 33.3% during the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after buying an additional 20,000 shares during the last quarter. Wealthedge Investment Advisors LLC boosted its stake in Adicet Bio by 208.8% in the first quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company’s stock valued at $172,000 after acquiring an additional 154,037 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Adicet Bio during the 4th quarter valued at approximately $177,000. Acadian Asset Management LLC increased its stake in shares of Adicet Bio by 1.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company’s stock worth $1,538,000 after purchasing an additional 36,277 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Adicet Bio by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after purchasing an additional 63,691 shares during the last quarter. 83.89% of the stock is owned by hedge funds and other institutional investors.

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.