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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned an average rating of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $56.25.

ACET has been the topic of several recent research reports. Canaccord Genuity Group set a $18.00 target price on shares of Adicet Bio and gave the company a “buy” rating in a research report on Tuesday, January 6th. 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 research note on Monday, March 23rd. Guggenheim decreased their price objective on Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a research note on Tuesday, January 27th. Finally, Truist Financial raised Adicet Bio to a “strong-buy” rating in a report on Wednesday, March 25th.

Adicet Bio Stock Performance

Shares of NASDAQ ACET opened at $6.47 on Friday. The firm has a market capitalization of $62.11 million, a price-to-earnings ratio of -0.36 and a beta of 1.56. Adicet Bio has a one year low of $6.41 and a one year high of $17.44. The business has a fifty day simple moving average of $7.37 and a 200 day simple moving average of $9.69.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($2.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.23) by $0.29. On average, research analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ACET. Susquehanna International Group LLP acquired a new stake in shares of Adicet Bio in the 3rd quarter valued at $33,000. Squarepoint Ops LLC bought a new position in Adicet Bio during the 3rd quarter valued at about $38,000. FNY Investment Advisers LLC bought a new position in Adicet Bio during the 4th quarter valued at about $51,000. Virtu Financial LLC acquired a new position in Adicet Bio in the third quarter valued at about $65,000. Finally, Wealthedge Investment Advisors LLC grew its stake in Adicet Bio by 37.4% during the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock worth $191,000 after buying an additional 85,307 shares during the last quarter. 83.89% of the stock is owned by institutional investors.

Adicet Bio Company Profile

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.