Adicet Bio, Inc. (NASDAQ:ACET) Receives $12.83 Average Target Price from Analysts

Adicet Bio, Inc. (NASDAQ:ACET) has received a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $12.83.

Several research analysts recently issued reports on ACET shares. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Adicet Bio in a research report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Adicet Bio in a research report on Tuesday, April 2nd. StockNews.com raised Adicet Bio to a “sell” rating in a research report on Friday, March 22nd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $19.00 price objective on shares of Adicet Bio in a research report on Wednesday, March 20th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Summit Trail Advisors LLC lifted its position in shares of Adicet Bio by 80.0% during the 3rd quarter. Summit Trail Advisors LLC now owns 18,000 shares of the company’s stock valued at $25,000 after buying an additional 8,000 shares during the last quarter. Marquette Asset Management LLC purchased a new position in shares of Adicet Bio during the 3rd quarter valued at $39,000. Panagora Asset Management Inc. purchased a new position in shares of Adicet Bio during the 4th quarter valued at $98,000. Exchange Traded Concepts LLC lifted its position in shares of Adicet Bio by 107.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 61,196 shares of the company’s stock valued at $84,000 after buying an additional 31,706 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Adicet Bio by 30.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 131,393 shares of the company’s stock valued at $180,000 after buying an additional 30,529 shares during the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Stock Down 10.7 %

Shares of NASDAQ:ACET opened at $1.88 on Monday. The stock has a market cap of $154.07 million, a price-to-earnings ratio of -0.56 and a beta of 1.88. Adicet Bio has a 12-month low of $1.10 and a 12-month high of $7.50. The business’s 50 day moving average is $2.31 and its 200 day moving average is $2.02.

Adicet Bio (NASDAQ:ACET) last announced its earnings results on Tuesday, March 19th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.03. As a group, equities research analysts expect that Adicet Bio will post -1.72 earnings per share for the current year.

Adicet Bio Company Profile

Adicet Bio, Inc, a clinical stage biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. The company offers gamma delta T cells engineered with chimeric antigen receptors (CARs) to facilitate durable activity in patients. Its lead product candidate is ADI-001, an allogeneic gamma delta T cell therapy expressing a CAR targeting CD20, which is in Phase I clinical trial for the treatment of autoimmune diseases and relapsed or refractory aggressive B cell non-Hodgkin's lymphoma.