Q1 2024 Earnings Estimate for Adicet Bio, Inc. (NASDAQ:ACET) Issued By Wedbush

Adicet Bio, Inc. (NASDAQ:ACETFree Report) – Wedbush upped their Q1 2024 earnings per share (EPS) estimates for shares of Adicet Bio in a research report issued to clients and investors on Monday, February 5th. Wedbush analyst R. Driscoll now anticipates that the company will post earnings of ($0.28) per share for the quarter, up from their previous forecast of ($0.54). Wedbush currently has a “Outperform” rating and a $15.00 target price on the stock. The consensus estimate for Adicet Bio’s current full-year earnings is ($2.94) per share. Wedbush also issued estimates for Adicet Bio’s Q2 2024 earnings at ($0.28) EPS, Q3 2024 earnings at ($0.28) EPS, Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($1.13) EPS, FY2025 earnings at ($1.15) EPS, FY2026 earnings at ($1.08) EPS, FY2027 earnings at ($1.03) EPS and FY2028 earnings at ($0.94) EPS.

Adicet Bio (NASDAQ:ACETGet Free Report) last released its quarterly earnings data on Wednesday, November 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.02.

ACET has been the subject of several other research reports. HC Wainwright cut their price objective on Adicet Bio from $26.00 to $10.00 and set a “buy” rating for the company in a report on Friday, February 2nd. StockNews.com raised Adicet Bio to a “sell” rating in a research report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Adicet Bio has a consensus rating of “Hold” and a consensus target price of $14.50.

Get Our Latest Analysis on Adicet Bio

Adicet Bio Price Performance

NASDAQ:ACET opened at $3.38 on Wednesday. Adicet Bio has a 12-month low of $1.10 and a 12-month high of $8.48. The firm has a market capitalization of $237.14 million, a P/E ratio of -1.01 and a beta of 1.94. The business has a 50 day simple moving average of $2.23 and a 200 day simple moving average of $1.84.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ACET. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 2,564 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Adicet Bio by 13.8% in the first quarter. Bank of New York Mellon Corp now owns 122,099 shares of the company’s stock valued at $2,438,000 after purchasing an additional 14,799 shares in the last quarter. MetLife Investment Management LLC grew its stake in Adicet Bio by 55.8% in the first quarter. MetLife Investment Management LLC now owns 12,717 shares of the company’s stock valued at $254,000 after purchasing an additional 4,557 shares in the last quarter. Rhumbline Advisers grew its stake in Adicet Bio by 40.7% in the first quarter. Rhumbline Advisers now owns 31,679 shares of the company’s stock valued at $633,000 after purchasing an additional 9,160 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Adicet Bio by 11.4% in the first quarter. BlackRock Inc. now owns 1,618,107 shares of the company’s stock valued at $32,314,000 after purchasing an additional 165,655 shares in the last quarter. Hedge funds and other institutional investors own 85.29% of the company’s stock.

Insider Activity at Adicet Bio

In other Adicet Bio news, Director Orbimed Advisors Llc purchased 3,125,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were purchased at an average cost of $2.40 per share, with a total value of $7,500,000.00. Following the completion of the transaction, the director now owns 7,526,359 shares of the company’s stock, valued at $18,063,261.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 29.50% of the stock is owned by insiders.

About Adicet Bio

(Get Free Report)

Adicet Bio, Inc, a clinical stage 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 chimeric adaptors 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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Earnings History and Estimates for Adicet Bio (NASDAQ:ACET)

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