FY2024 EPS Estimates for Adicet Bio Lowered by HC Wainwright

Adicet Bio, Inc. (NASDAQ:ACET - Free Report) - Equities research analysts at HC Wainwright dropped their FY2024 EPS estimates for shares of Adicet Bio in a report issued on Thursday, November 7th. HC Wainwright analyst E. White now forecasts that the company will post earnings of ($1.39) per share for the year, down from their prior forecast of ($1.38). HC Wainwright has a "Neutral" rating on the stock. The consensus estimate for Adicet Bio's current full-year earnings is ($1.40) per share. HC Wainwright also issued estimates for Adicet Bio's Q4 2024 earnings at ($0.37) EPS, FY2025 earnings at ($1.55) EPS and FY2026 earnings at ($1.00) EPS.

Adicet Bio (NASDAQ:ACET - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.34).

Other equities analysts have also issued research reports about the company. Guggenheim initiated coverage on Adicet Bio in a research note on Monday, September 30th. They issued a "buy" rating and a $7.00 price target on the stock. Canaccord Genuity Group cut their price target on Adicet Bio from $19.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. StockNews.com downgraded shares of Adicet Bio from a "hold" rating to a "sell" rating in a research report on Thursday. Finally, Wedbush reaffirmed an "outperform" rating and set a $5.00 price objective on shares of Adicet Bio in a report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $7.50.

Adicet Bio Stock Performance

Adicet Bio stock traded down $0.05 during midday trading on Monday, hitting $1.26. 678,894 shares of the company were exchanged, compared to its average volume of 1,111,925. The business has a fifty day simple moving average of $1.42 and a two-hundred day simple moving average of $1.42. The firm has a market capitalization of $103.82 million, a PE ratio of -0.77 and a beta of 1.81. Adicet Bio has a fifty-two week low of $1.05 and a fifty-two week high of $3.77.

Institutional Trading of Adicet Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Adicet Bio in the first quarter valued at $28,000. Vanguard Group Inc. boosted its stake in shares of Adicet Bio by 85.5% during the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company's stock valued at $7,347,000 after buying an additional 1,441,503 shares during the period. American International Group Inc. raised its stake in shares of Adicet Bio by 74.2% during the 1st quarter. American International Group Inc. now owns 26,319 shares of the company's stock worth $62,000 after purchasing an additional 11,214 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Adicet Bio in the first quarter worth approximately $37,000. Finally, Blackstone Inc. acquired a new stake in shares of Adicet Bio in the first quarter worth about $2,906,000. 83.89% of the stock is currently owned by institutional investors.

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.