Adicet Bio, Inc. (NASDAQ:ACET) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned an average recommendation of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $7.50.

A number of analysts recently weighed in on ACET shares. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research report on Friday, March 7th. Guggenheim restated a “buy” rating and issued a $7.00 price objective on shares of Adicet Bio in a research report on Friday, March 21st. JMP Securities reaffirmed a “market perform” rating on shares of Adicet Bio in a research note on Thursday, February 6th. Finally, StockNews.com assumed coverage on Adicet Bio in a research note on Friday, May 16th. They issued a “hold” rating for the company.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Adicet Bio by 10,321.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock valued at $116,000 after acquiring an additional 79,582 shares in the last quarter. Regeneron Pharmaceuticals Inc. bought a new stake in shares of Adicet Bio in the fourth quarter worth $931,000. Virtu Financial LLC bought a new position in Adicet Bio in the fourth quarter valued at $29,000. Norges Bank acquired a new stake in Adicet Bio in the 4th quarter valued at $413,000. Finally, Northern Trust Corp increased its stake in Adicet Bio by 25.1% in the 4th quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock valued at $135,000 after buying an additional 28,153 shares during the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

Adicet Bio Stock Down 6.6%

ACET stock opened at $0.70 on Friday. Adicet Bio has a twelve month low of $0.45 and a twelve month high of $1.70. The company has a market cap of $57.90 million, a P/E ratio of -0.41 and a beta of 1.76. The business’s fifty day moving average is $0.66 and its 200-day moving average is $0.86.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Tuesday, May 6th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.03. Research analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

About Adicet Bio

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.