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

Shares of Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) have been given an average recommendation of "Moderate Buy" by the five analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $7.50.

ACET has been the subject of a number of research analyst reports. JMP Securities reissued a "market perform" rating on shares of Adicet Bio in a research report on Thursday, February 6th. Guggenheim reissued a "buy" rating and issued a $7.00 price objective on shares of Adicet Bio in a report on Friday, March 21st. Finally, HC Wainwright restated a "neutral" rating on shares of Adicet Bio in a research report on Friday, March 7th.

Adicet Bio Stock Performance

ACET stock traded down $0.02 during midday trading on Friday, reaching $0.74. 346,907 shares of the company were exchanged, compared to its average volume of 817,563. The company has a market cap of $60.77 million, a price-to-earnings ratio of -0.43 and a beta of 1.97. Adicet Bio has a 1-year low of $0.74 and a 1-year high of $2.40. The stock's 50-day simple moving average is $0.88 and its 200 day simple moving average is $1.07.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.05. On average, research analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current year.

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Institutional Trading of Adicet Bio

A number of hedge funds have recently added to or reduced their stakes in ACET. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of Adicet Bio during the fourth quarter worth approximately $931,000. Norges Bank acquired a new position in Adicet Bio in the 4th quarter valued at $413,000. RBF Capital LLC raised its position 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 buying an additional 231,135 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Adicet Bio in the 4th quarter worth $177,000. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Adicet Bio by 20.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company's stock valued at $988,000 after acquiring an additional 175,000 shares in the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

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.