Adicet Bio, Inc. (NASDAQ:ACET) Receives $7.50 Consensus Price Target from Analysts

Shares of Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $7.50.

A number of research firms have weighed in on ACET. Guggenheim reissued a "buy" rating and set a $7.00 target price on shares of Adicet Bio in a research report on Friday, March 21st. HC Wainwright reissued a "neutral" rating on shares of Adicet Bio in a research note on Friday, March 7th. Finally, Wall Street Zen began coverage on shares of Adicet Bio in a report on Friday, May 16th. They issued a "hold" rating on the stock.

Adicet Bio Price Performance

ACET traded down $0.04 on Wednesday, hitting $0.78. 263,635 shares of the stock were exchanged, compared to its average volume of 717,630. The firm has a market capitalization of $64.91 million, a price-to-earnings ratio of -0.46 and a beta of 1.67. Adicet Bio has a 12 month low of $0.45 and a 12 month high of $1.70. The business has a 50-day moving average of $0.64 and a two-hundred day moving average of $0.82.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its quarterly 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. Equities research analysts expect that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of Adicet Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in shares of Adicet Bio in the fourth quarter valued at approximately $29,000. Wealthedge Investment Advisors LLC bought a new position in Adicet Bio in the 4th quarter valued at $71,000. Northern Trust Corp boosted its holdings in Adicet Bio by 25.1% in the 4th quarter. Northern Trust Corp now owns 140,369 shares of the company's stock valued at $135,000 after purchasing an additional 28,153 shares during the period. JPMorgan Chase & Co. grew its position in shares of Adicet Bio by 87.3% during the 4th quarter. JPMorgan Chase & Co. now owns 150,485 shares of the company's stock valued at $145,000 after purchasing an additional 70,132 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Adicet Bio in the fourth quarter worth $177,000. 83.89% of the stock is currently owned by institutional investors.

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.