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Adicet Bio, Inc. (NASDAQ:ACET) Receives $7.50 Average PT from Analysts

Adicet Bio logo with Medical background

Shares of Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) have received a consensus rating of "Moderate Buy" from the five ratings firms that are currently covering the company, Marketbeat Ratings 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 brokerages that have issued ratings on the stock in the last year is $7.50.

ACET has been the subject of several recent research reports. Wall Street Zen initiated coverage on shares of Adicet Bio in a research report on Friday, May 16th. They issued a "hold" rating for the company. Guggenheim restated a "buy" rating and issued a $7.00 price target on shares of Adicet Bio in a research report on Friday, March 21st. Finally, HC Wainwright restated a "neutral" rating on shares of Adicet Bio in a research report on Friday, March 7th.

Check Out Our Latest Stock Analysis on Adicet Bio

Adicet Bio Price Performance

ACET stock traded down $0.03 during trading on Wednesday, reaching $0.75. 336,366 shares of the company were exchanged, compared to its average volume of 714,829. The company has a 50-day moving average of $0.65 and a two-hundred day moving average of $0.82. The company has a market capitalization of $62.06 million, a price-to-earnings ratio of -0.44 and a beta of 1.67. Adicet Bio has a twelve month low of $0.45 and a twelve month high of $1.70.

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. On average, analysts forecast that Adicet Bio will post -1.39 EPS for the current year.

Hedge Funds Weigh In On Adicet Bio

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in Adicet Bio by 1.8% in the first quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company's stock valued at $1,538,000 after purchasing an additional 36,277 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Adicet Bio by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company's stock worth $2,882,000 after purchasing an additional 63,691 shares during the last quarter. Wealthedge Investment Advisors LLC boosted its holdings in Adicet Bio by 208.8% during the first quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company's stock worth $172,000 after purchasing an additional 154,037 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Adicet Bio in the fourth quarter worth about $177,000. Finally, Two Sigma Advisers LP raised its position in Adicet Bio by 12.4% in the fourth quarter. Two Sigma Advisers LP now owns 794,039 shares of the company's stock worth $764,000 after acquiring an additional 87,400 shares during the period. Institutional investors own 83.89% of the company's stock.

About Adicet Bio

(Get Free Report

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.

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Analyst Recommendations for Adicet Bio (NASDAQ:ACET)

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