Adicet Bio, Inc. (NASDAQ:ACET) Receives Consensus Rating of "Moderate Buy" from Brokerages

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the five research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $7.50.

Several research analysts have issued reports on ACET shares. Wall Street Zen started coverage on Adicet Bio in a research report on Friday, May 16th. They set a "hold" rating for the company. Guggenheim restated a "buy" rating and set a $7.00 target price on shares of Adicet Bio in a research report on Friday, March 21st.

Adicet Bio Stock Up 4.4%

NASDAQ ACET traded up $0.03 during trading hours on Friday, hitting $0.71. 393,082 shares of the company were exchanged, compared to its average volume of 645,111. The stock has a 50-day moving average price of $0.68 and a 200 day moving average price of $0.77. Adicet Bio has a 52 week low of $0.45 and a 52 week high of $1.70. The stock has a market cap of $58.97 million, a PE ratio of -0.55 and a beta of 1.62.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.03. As a group, sell-side analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current year.

Institutional Trading of Adicet Bio

A number of large investors have recently modified their holdings of ACET. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of Adicet Bio in the fourth quarter valued at approximately $931,000. Norges Bank purchased a new stake in shares of Adicet Bio in the fourth quarter valued at approximately $413,000. Squarepoint Ops LLC purchased a new stake in shares of Adicet Bio in the fourth quarter valued at approximately $177,000. Bridgeway Capital Management LLC boosted its holdings in shares of Adicet Bio by 20.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company's stock valued at $988,000 after purchasing an additional 175,000 shares during the period. Finally, Wealthedge Investment Advisors LLC boosted its holdings in shares of 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 purchasing an additional 154,037 shares during the period. Hedge funds and other institutional investors own 83.89% of the company's stock.

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.