Brokerages Set Adicet Bio, Inc. (NASDAQ:ACET) PT at $7.50

Shares of Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) have received an average recommendation of "Moderate Buy" from the five brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $7.50.

ACET has been the topic of a number of recent analyst reports. HC Wainwright reissued a "neutral" rating on shares of Adicet Bio in a research report on Thursday, February 27th. StockNews.com downgraded shares of Adicet Bio from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. JMP Securities reissued a "market perform" rating on shares of Adicet Bio in a research report on Thursday, February 6th. Finally, Wedbush reissued an "outperform" rating and issued a $5.00 price objective on shares of Adicet Bio in a research report on Thursday, November 7th.

Adicet Bio Stock Performance

Shares of NASDAQ:ACET traded down $0.02 during trading hours on Monday, reaching $0.86. The stock had a trading volume of 235,441 shares, compared to its average volume of 986,583. Adicet Bio has a 1 year low of $0.81 and a 1 year high of $2.52. The firm's 50 day moving average is $0.93 and its 200-day moving average is $1.16. The stock has a market capitalization of $70.54 million, a price-to-earnings ratio of -0.50 and a beta of 1.86.

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Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ACET. GSA Capital Partners LLP boosted its holdings in shares of Adicet Bio by 161.3% in the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company's stock valued at $56,000 after buying an additional 24,203 shares in the last quarter. FMR LLC boosted its stake in Adicet Bio by 31.3% during the 3rd quarter. FMR LLC now owns 276,169 shares of the company's stock worth $398,000 after purchasing an additional 65,903 shares during the period. RBF Capital LLC boosted its stake in Adicet Bio by 62.5% during the 3rd quarter. RBF Capital LLC now owns 601,135 shares of the company's stock worth $866,000 after purchasing an additional 231,135 shares during the period. XTX Topco Ltd boosted its stake in Adicet Bio by 12.5% during the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company's stock worth $421,000 after purchasing an additional 32,392 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Adicet Bio by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 768,566 shares of the company's stock worth $1,107,000 after purchasing an additional 97,567 shares during the period. Institutional investors and hedge funds own 83.89% of the company's stock.

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.