Brokerages Set Adicet Bio, Inc. (NASDAQ:ACET) Price Target at $6.00

Key Points

• Adicet Bio, Inc. (NASDAQ:ACET) has received an average consensus rating of "Buy" from five brokerages, with a 12-month target price of $6.00.
• JPMorgan Chase & Co. significantly increased its stake in Adicet Bio by 87.3% in the last quarter, reflecting strong institutional interest in the company.
• Adicet Bio recently reported an EPS of ( $0.34), missing estimates, and is forecasting a yearly EPS of ( $1.39) for the current fiscal year.

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) has been given an average rating of "Buy" by the five ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $6.00.

ACET has been the subject of a number of research reports. HC Wainwright upgraded shares of Adicet Bio to a "strong-buy" rating and set a $4.00 target price for the company in a research report on Wednesday, July 23rd. Wall Street Zen assumed coverage on shares of Adicet Bio in a research report on Friday, May 16th. They set a "hold" rating for the company.

Adicet Bio Stock Up 0.4%

Shares of Adicet Bio stock traded up $0.00 during trading on Monday, reaching $0.76. The company's stock had a trading volume of 214,156 shares, compared to its average volume of 635,341. The company has a market cap of $63.16 million, a price-to-earnings ratio of -0.58 and a beta of 1.59. Adicet Bio has a 1-year low of $0.45 and a 1-year high of $1.63. The company has a 50-day simple moving average of $0.69 and a two-hundred day simple moving average of $0.72.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.02). As a group, analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current year.

Institutional Trading of Adicet Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in ACET. Wealthedge Investment Advisors LLC raised its position in Adicet Bio by 37.4% in the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company's stock valued at $191,000 after purchasing an additional 85,307 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Adicet Bio by 33.3% during the 2nd quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company's stock worth $49,000 after purchasing an additional 20,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 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 last quarter. Acadian Asset Management LLC lifted its position in shares of Adicet Bio by 1.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company's stock worth $1,538,000 after purchasing an additional 36,277 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Adicet Bio during the 4th quarter worth $177,000. Institutional investors and hedge funds 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.