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

Shares of Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) have been given an average rating of "Moderate Buy" by the five research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $7.50.

ACET has been the topic of several analyst reports. Guggenheim reissued a "buy" rating and set a $7.00 price target on shares of Adicet Bio in a research report on Friday, March 21st. JMP Securities reaffirmed a "market perform" rating on shares of Adicet Bio in a research report on Thursday, February 6th. Wall Street Zen started coverage on Adicet Bio in a research report on Friday, May 16th. They set a "hold" rating for the company. Finally, HC Wainwright reissued a "neutral" rating on shares of Adicet Bio in a research note on Friday, March 7th.

Adicet Bio Stock Performance

Adicet Bio stock traded down $0.01 during midday trading on Friday, reaching $0.70. The stock had a trading volume of 98,073 shares, compared to its average volume of 724,989. The stock has a market capitalization of $57.48 million, a P/E ratio of -0.41 and a beta of 1.76. The firm's fifty day simple moving average is $0.66 and its 200-day simple moving average is $0.86. Adicet Bio has a 1-year low of $0.45 and a 1-year high of $1.70.

Adicet Bio (NASDAQ:ACET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.34) by $0.03. On average, sell-side analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in Adicet Bio by 1.7% in the 1st 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 in the last quarter. Acadian Asset Management LLC raised its position in shares of 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 buying an additional 36,277 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake 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 buying an additional 175,000 shares during the period. Regeneron Pharmaceuticals Inc. acquired a new stake in Adicet Bio during the fourth quarter worth approximately $931,000. Finally, Two Sigma Advisers LP increased its stake in Adicet Bio by 12.4% during the 4th 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 and hedge funds own 83.89% of the company's stock.

Adicet Bio Company Profile

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.