Adicet Bio (NASDAQ:ACET) Receives “Buy” Rating from JMP Securities

Adicet Bio (NASDAQ:ACETGet Rating)‘s stock had its “buy” rating restated by analysts at JMP Securities in a research report issued on Tuesday, TipRanks reports. They presently have a $21.00 price target on the stock. JMP Securities’ target price would indicate a potential upside of 63.55% from the company’s current price.

A number of other equities research analysts have also commented on ACET. Truist Financial assumed coverage on Adicet Bio in a research report on Tuesday, March 8th. They set a “buy” rating and a $30.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of Adicet Bio in a research report on Friday, March 4th. They set a “buy” rating and a $27.00 price objective on the stock. Sumitomo Mitsui Financial Group started coverage on shares of Adicet Bio in a research report on Thursday, March 31st. They issued an “outperform” rating and a $28.00 target price for the company. TheStreet cut shares of Adicet Bio from a “c-” rating to a “d+” rating in a report on Wednesday, June 1st. Finally, StockNews.com upgraded Adicet Bio from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $26.78.

ACET stock traded up $0.58 during trading hours on Tuesday, hitting $12.84. 20,472 shares of the stock traded hands, compared to its average volume of 615,422. The stock has a 50-day simple moving average of $14.48 and a 200 day simple moving average of $14.12. Adicet Bio has a one year low of $6.25 and a one year high of $21.17. The company has a market cap of $513.60 million, a P/E ratio of -11.16 and a beta of 2.61.

Adicet Bio (NASDAQ:ACETGet Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.17. Adicet Bio had a negative return on equity of 13.61% and a negative net margin of 93.18%. The business had revenue of $24.99 million during the quarter, compared to analyst estimates of $13.74 million. On average, equities research analysts anticipate that Adicet Bio will post -0.78 earnings per share for the current year.

In other Adicet Bio news, SVP Francesco Galimi sold 7,621 shares of Adicet Bio stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $21.00, for a total value of $160,041.00. Following the transaction, the senior vice president now directly owns 59,917 shares of the company’s stock, valued at approximately $1,258,257. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 33.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in shares of Adicet Bio by 3,037.0% in the 2nd quarter. Morgan Stanley now owns 14,932 shares of the company’s stock valued at $154,000 after purchasing an additional 14,456 shares in the last quarter. BlackRock Inc. grew its stake in Adicet Bio by 1.1% during the third quarter. BlackRock Inc. now owns 1,248,519 shares of the company’s stock worth $9,788,000 after buying an additional 13,206 shares during the last quarter. Citigroup Inc. grew its stake in Adicet Bio by 45.2% during the third quarter. Citigroup Inc. now owns 4,243 shares of the company’s stock worth $33,000 after buying an additional 1,320 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Adicet Bio by 144.2% during the third quarter. Goldman Sachs Group Inc. now owns 38,016 shares of the company’s stock worth $298,000 after buying an additional 22,451 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Adicet Bio by 6.6% in the 3rd quarter. Geode Capital Management LLC now owns 339,360 shares of the company’s stock worth $2,660,000 after acquiring an additional 21,019 shares in the last quarter. Institutional investors and hedge funds own 76.21% of the company’s stock.

Adicet Bio Company Profile (Get Rating)

Adicet Bio, Inc, a biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for cancer and other diseases. The company offers gamma delta T cells engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and enhance persistence for durable activity in patients.

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Analyst Recommendations for Adicet Bio (NASDAQ:ACET)

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