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

Shares of Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) have received a consensus rating of "Moderate Buy" from the five analysts that are presently covering the firm, 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 1-year price target among brokers that have issued a report on the stock in the last year is $7.50.

Several equities research analysts recently commented on ACET shares. HC Wainwright reissued a "neutral" rating on shares of Adicet Bio in a report on Friday, March 7th. StockNews.com assumed coverage on shares of Adicet Bio in a research note on Friday. They set a "hold" rating on the stock. Guggenheim reaffirmed a "buy" rating and set a $7.00 target price on shares of Adicet Bio in a research note on Friday, March 21st. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Adicet Bio in a research note on Thursday, February 6th.

Adicet Bio Stock Up 21.8%

Adicet Bio stock opened at $0.78 on Friday. Adicet Bio has a 52 week low of $0.45 and a 52 week high of $1.71. The company has a market capitalization of $64.28 million, a price-to-earnings ratio of -0.45 and a beta of 1.76. The stock has a 50-day moving average price of $0.66 and a 200 day moving average price of $0.87.

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 for the quarter, beating the consensus estimate of ($0.34) by $0.03. Research analysts anticipate that Adicet Bio will post -1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Adicet Bio

Several hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in Adicet Bio by 1.7% during 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 during the period. Bridgeway Capital Management LLC boosted its stake in Adicet Bio by 20.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company's stock worth $988,000 after purchasing an additional 175,000 shares during the period. Regeneron Pharmaceuticals Inc. purchased a new position in Adicet Bio in the 4th quarter valued at $931,000. Two Sigma Advisers LP increased its stake in Adicet Bio by 12.4% in the 4th quarter. Two Sigma Advisers LP now owns 794,039 shares of the company's stock valued at $764,000 after buying an additional 87,400 shares during the period. Finally, Stonepine Capital Management LLC increased its stake in Adicet Bio by 14.9% in the 4th quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company's stock valued at $673,000 after buying an additional 90,554 shares during the period. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

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.

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