Adicet Bio, Inc. (NASDAQ:ACET) Receives $56.25 Consensus Price Target from Analysts

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $56.25.

Several equities research analysts recently commented on the stock. HC Wainwright cut their price target on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Canaccord Genuity Group set a $18.00 price target on shares of Adicet Bio and gave the stock a “buy” rating in a report on Tuesday, January 6th. Guggenheim cut their price target on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating for the company in a report on Friday, March 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a report on Tuesday, January 27th. Finally, Truist Financial raised shares of Adicet Bio to a “strong-buy” rating in a report on Wednesday, March 25th.

Insider Buying and Selling

In related news, major shareholder Ra Capital Management, L.P. purchased 74,751 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was bought at an average price of $7.27 per share, with a total value of $543,439.77. Following the acquisition, the insider owned 1,182,624 shares in the company, valued at $8,597,676.48. The trade was a 6.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have acquired 223,596 shares of company stock valued at $1,603,934. 4.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Adicet Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new position in Adicet Bio in the fourth quarter valued at about $51,000. Squarepoint Ops LLC lifted its position in Adicet Bio by 20.0% in the fourth quarter. Squarepoint Ops LLC now owns 55,723 shares of the company’s stock valued at $469,000 after buying an additional 9,296 shares during the last quarter. Maven Securities LTD acquired a new position in Adicet Bio in the fourth quarter valued at about $263,000. Susquehanna International Group LLP acquired a new position in Adicet Bio in the third quarter valued at about $33,000. Finally, Luminus Management LLC acquired a new position in Adicet Bio in the fourth quarter valued at about $501,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

Adicet Bio Price Performance

NASDAQ:ACET opened at $7.90 on Tuesday. The firm has a market cap of $75.84 million, a price-to-earnings ratio of -0.44 and a beta of 1.57. The company has a 50 day moving average price of $7.17 and a 200-day moving average price of $8.96. Adicet Bio has a 1-year low of $6.01 and a 1-year high of $17.44.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Thursday, March 12th. The company reported ($2.94) earnings per share for the quarter, beating the consensus estimate of ($3.23) by $0.29. On average, sell-side analysts anticipate that Adicet Bio will post -10.26 earnings per share for the current fiscal year.

About Adicet Bio

Adicet Bio, Inc (NASDAQ: ACET) is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of γδ T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of γδ T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.

Adicet’s lead product candidate, ADI-001, is a CAR‐engineered allogeneic γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.