Adicet Bio’s (ACET) “Buy” Rating Reiterated at JMP Securities

Adicet Bio (NASDAQ:ACET – Get Rating)‘s stock had its “buy” rating reaffirmed by investment analysts at JMP Securities in a note issued to investors on Friday. They presently have a $19.00 price objective on the stock. JMP Securities’ target price suggests a potential upside of 155.72% from the company’s previous close.

ACET has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Adicet Bio in a research note on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Adicet Bio in a research note on Thursday. Finally, StockNews.com began coverage on Adicet Bio in a research note on Thursday. They issued a “sell” rating for the company. One equities research 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $27.50.

Adicet Bio Trading Down 3.6 %

Shares of NASDAQ ACET opened at $7.43 on Friday. The company has a market cap of $318.38 million, a price-to-earnings ratio of -4.35 and a beta of 2.35. Adicet Bio has a 12 month low of $6.82 and a 12 month high of $21.87. The stock has a 50-day moving average price of $8.20 and a two-hundred day moving average price of $12.62.

Insider Activity at Adicet Bio

In related news, CTO Don Healey sold 10,467 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The stock was sold at an average price of $7.98, for a total value of $83,526.66. Following the sale, the chief technology officer now directly owns 71,101 shares in the company, valued at $567,385.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.20% of the stock is currently owned by company insiders.

Institutional Trading of Adicet Bio

Several institutional investors have recently added to or reduced their stakes in ACET. JPMorgan Chase & Co. boosted its holdings in Adicet Bio by 18.1% in the first quarter. JPMorgan Chase & Co. now owns 16,766 shares of the company’s stock valued at $335,000 after acquiring an additional 2,564 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Adicet Bio by 13.8% during the 1st quarter. Bank of New York Mellon Corp now owns 122,099 shares of the company’s stock worth $2,438,000 after buying an additional 14,799 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Adicet Bio by 55.8% during the 1st quarter. MetLife Investment Management LLC now owns 12,717 shares of the company’s stock worth $254,000 after buying an additional 4,557 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Adicet Bio by 40.7% during the 1st quarter. Rhumbline Advisers now owns 31,679 shares of the company’s stock worth $633,000 after buying an additional 9,160 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Adicet Bio by 11.4% during the 1st quarter. BlackRock Inc. now owns 1,618,107 shares of the company’s stock worth $32,314,000 after buying an additional 165,655 shares in the last quarter.

About Adicet Bio

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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.