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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $7.50.

Several equities research analysts recently issued reports on the stock. Guggenheim reissued a “buy” rating and issued a $7.00 target price on shares of Adicet Bio in a report on Friday, March 21st. JMP Securities restated a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. Finally, HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research note on Friday, March 7th.

Institutional Trading of Adicet Bio

Several hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in shares of Adicet Bio in the fourth quarter worth about $29,000. Wealthedge Investment Advisors LLC bought a new stake in Adicet Bio in the 4th quarter worth approximately $71,000. JPMorgan Chase & Co. raised its holdings in shares of Adicet Bio by 10,321.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after acquiring an additional 79,582 shares in the last quarter. Northern Trust Corp boosted its position in shares of Adicet Bio by 25.1% during the 4th quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock valued at $135,000 after acquiring an additional 28,153 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Adicet Bio in the fourth quarter valued at $177,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Stock Down 2.3 %

NASDAQ ACET opened at $0.83 on Friday. The company has a 50-day moving average price of $0.89 and a 200-day moving average price of $1.08. The firm has a market capitalization of $68.65 million, a P/E ratio of -0.49 and a beta of 1.97. Adicet Bio has a 52 week low of $0.74 and a 52 week high of $2.43.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. As a group, equities research analysts anticipate 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.