Analysts Set Adicet Bio, Inc. (NASDAQ:ACET) Price Target at $7.50

Shares of Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have assigned 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 subject of several research analyst reports. HC Wainwright restated a "neutral" rating on shares of Adicet Bio in a report on Wednesday, February 5th. Wedbush restated an "outperform" rating and issued a $5.00 target price on shares of Adicet Bio in a research note on Thursday, November 7th. JMP Securities reaffirmed a "market perform" rating on shares of Adicet Bio in a research note on Thursday. Finally, StockNews.com lowered Adicet Bio from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th.

Hedge Funds Weigh In On Adicet Bio

Several large investors have recently modified their holdings of the stock. Marshall Wace LLP bought a new stake in Adicet Bio during the 2nd quarter valued at about $43,000. GSA Capital Partners LLP grew its holdings in shares of Adicet Bio by 161.3% during the third 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 during the last quarter. Castleview Partners LLC bought a new stake in shares of Adicet Bio during the third quarter valued at approximately $75,000. JPMorgan Chase & Co. raised its holdings in Adicet Bio by 10,321.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company's stock worth $116,000 after acquiring an additional 79,582 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Adicet Bio by 478.3% in the 2nd quarter. AQR Capital Management LLC now owns 136,765 shares of the company's stock valued at $165,000 after acquiring an additional 113,115 shares in the last quarter. Hedge funds and other institutional investors own 83.89% of the company's stock.

Adicet Bio Stock Down 6.8 %

Shares of NASDAQ:ACET traded down $0.07 on Thursday, hitting $0.90. The company had a trading volume of 899,345 shares, compared to its average volume of 1,301,340. The firm's 50-day simple moving average is $0.95 and its two-hundred day simple moving average is $1.22. The firm has a market capitalization of $74.16 million, a price-to-earnings ratio of -0.53 and a beta of 1.86. Adicet Bio has a 1 year low of $0.81 and a 1 year high of $3.47.

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.