Research Analysts Issue Forecasts for Adicet Bio, Inc.’s Q1 2024 Earnings (NASDAQ:ACET)

Adicet Bio, Inc. (NASDAQ:ACET – Get Rating) – Investment analysts at Wedbush issued their Q1 2024 EPS estimates for Adicet Bio in a research report issued to clients and investors on Thursday, March 16th. Wedbush analyst R. Driscoll anticipates that the company will post earnings per share of ($0.80) for the quarter. Wedbush has a “Outperform” rating and a $30.00 price target on the stock. The consensus estimate for Adicet Bio’s current full-year earnings is ($1.94) per share. Wedbush also issued estimates for Adicet Bio’s Q2 2024 earnings at ($0.83) EPS, Q3 2024 earnings at ($0.87) EPS, Q4 2024 earnings at ($0.91) EPS and FY2027 earnings at $6.39 EPS.

Other equities research analysts also recently issued reports about the stock. StockNews.com assumed coverage on shares of Adicet Bio in a research note on Thursday. They issued a “sell” rating on the stock. JMP Securities reissued a “buy” rating and set a $19.00 price target on shares of Adicet Bio in a research note on Friday. Finally, HC Wainwright reissued a “buy” rating and set a $38.00 price target on shares of Adicet Bio in a research note on Thursday. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $27.50.

Adicet Bio Price Performance

Shares of ACET opened at $7.43 on Friday. The firm’s 50 day simple moving average is $8.20 and its 200 day simple moving average is $12.63. The company has a market capitalization of $318.38 million, a P/E ratio of -4.35 and a beta of 2.35. Adicet Bio has a 1-year low of $6.82 and a 1-year high of $21.87.

Institutional Trading of Adicet Bio

Institutional investors have recently bought and sold shares of the company. RTW Investments LP lifted its stake in shares of Adicet Bio by 7.3% in the 3rd quarter. RTW Investments LP now owns 4,241,472 shares of the company’s stock worth $60,314,000 after purchasing an additional 290,191 shares during the period. EcoR1 Capital LLC bought a new stake in Adicet Bio during the 4th quarter worth approximately $31,833,000. Cowen AND Company LLC raised its stake in Adicet Bio by 28.7% during the 4th quarter. Cowen AND Company LLC now owns 3,143,608 shares of the company’s stock worth $28,104,000 after acquiring an additional 700,362 shares during the period. BlackRock Inc. raised its stake in Adicet Bio by 14.1% during the 3rd quarter. BlackRock Inc. now owns 2,109,787 shares of the company’s stock worth $30,003,000 after acquiring an additional 260,705 shares during the period. Finally, RA Capital Management L.P. bought a new stake in Adicet Bio during the 3rd quarter worth approximately $29,284,000.

Insider Transactions at Adicet Bio

In other news, CTO Don Healey sold 4,533 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $7.57, for a total value of $34,314.81. Following the sale, the chief technology officer now directly owns 66,568 shares of the company’s stock, valued at approximately $503,919.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 29.20% of the company’s stock.

Adicet Bio Company Profile

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Adicet Bio, Inc is a biotechnology company, which engages in the design and development of off-the-shelf allogeneic gamma delta T cell therapies for cancer and other diseases. The company was founded by Aya Jakobovits in November 2014 and is headquartered in Boston, MA.