Adicet Bio, Inc. (NASDAQ:ACET) Receives $28.17 Average Target Price from Brokerages

Adicet Bio, Inc. (NASDAQ:ACETGet Rating) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $28.17.

Several equities analysts recently issued reports on ACET shares. Truist Financial cut their price target on shares of Adicet Bio to $27.00 in a report on Tuesday, August 23rd. StockNews.com cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a research report on Thursday, July 28th. TheStreet cut shares of Adicet Bio from a “c-” rating to a “d+” rating in a research report on Wednesday, June 1st. Finally, JMP Securities reiterated a “buy” rating and set a $21.00 price target on shares of Adicet Bio in a research report on Tuesday, June 7th.

Adicet Bio Price Performance

Shares of Adicet Bio stock opened at $17.66 on Monday. Adicet Bio has a fifty-two week low of $6.75 and a fifty-two week high of $21.17. The firm has a fifty day moving average price of $16.19 and a two-hundred day moving average price of $14.86. The company has a market cap of $706.95 million, a PE ratio of -12.89 and a beta of 2.29.

Adicet Bio (NASDAQ:ACETGet Rating) last released its quarterly earnings data on Wednesday, August 10th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.10). Adicet Bio had a negative return on equity of 16.98% and a negative net margin of 93.18%. Analysts expect that Adicet Bio will post -1 earnings per share for the current fiscal year.

Insider Transactions at Adicet Bio

In related news, insider Blake Aftab sold 6,968 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $18.00, for a total transaction of $125,424.00. Following the transaction, the insider now directly owns 38,967 shares in the company, valued at $701,406. The sale was disclosed in a filing with the SEC, which is available through this link. In other Adicet Bio news, insider Blake Aftab sold 6,968 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $18.00, for a total value of $125,424.00. Following the transaction, the insider now directly owns 38,967 shares in the company, valued at $701,406. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Chen Schor sold 66,947 shares of the company’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $16.77, for a total transaction of $1,122,701.19. Following the completion of the transaction, the chief executive officer now owns 122,712 shares in the company, valued at $2,057,880.24. The disclosure for this sale can be found here. Insiders have sold a total of 90,340 shares of company stock valued at $1,517,468 over the last 90 days. 29.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Candriam S.C.A. bought a new position in Adicet Bio in the 2nd quarter valued at approximately $18,740,000. Cowen AND Company LLC increased its position in Adicet Bio by 62.9% during the 2nd quarter. Cowen AND Company LLC now owns 2,443,780 shares of the company’s stock valued at $35,679,000 after purchasing an additional 943,725 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Adicet Bio during the 2nd quarter worth approximately $12,771,000. Decheng Capital Management III Cayman LLC acquired a new stake in shares of Adicet Bio during the 1st quarter worth approximately $11,583,000. Finally, Abingworth LLP grew its position in shares of Adicet Bio by 31.0% during the 4th quarter. Abingworth LLP now owns 2,115,385 shares of the company’s stock worth $36,892,000 after buying an additional 500,000 shares during the period.

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.

See Also

Analyst Recommendations for Adicet Bio (NASDAQ:ACET)

Receive News & Ratings for Adicet Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adicet Bio and related companies with MarketBeat.com's FREE daily email newsletter.