Adicet Bio, Inc. (NASDAQ:ACET) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Adicet Bio, Inc. (NASDAQ:ACET) has received an average recommendation of “Moderate Buy” from the four research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $7.50.

A number of equities analysts have commented on ACET shares. JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a report on Thursday. StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a report on Thursday, November 7th.

Adicet Bio Stock Performance

Adicet Bio stock traded up $0.02 during trading on Thursday, reaching $1.03. 1,026,179 shares of the company’s stock were exchanged, compared to its average volume of 1,232,607. The company’s 50-day moving average is $0.96 and its two-hundred day moving average is $1.23. Adicet Bio has a 52-week low of $0.81 and a 52-week high of $3.50. The firm has a market cap of $84.46 million, a price-to-earnings ratio of -0.60 and a beta of 1.86.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.34). Analysts anticipate that Adicet Bio will post -1.39 EPS for the current year.

Institutional Investors Weigh In On Adicet Bio

A number of institutional investors have recently modified their holdings of ACET. Marshall Wace LLP acquired a new stake in shares of Adicet Bio in the 2nd quarter valued at about $43,000. GSA Capital Partners LLP raised its stake in Adicet Bio by 161.3% during the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after acquiring an additional 24,203 shares during the period. Castleview Partners LLC acquired a new stake in Adicet Bio during the third quarter worth about $75,000. JPMorgan Chase & Co. raised its stake in Adicet Bio by 10,321.9% during the third 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 period. Finally, AQR Capital Management LLC raised its stake in Adicet Bio by 478.3% during the second quarter. AQR Capital Management LLC now owns 136,765 shares of the company’s stock worth $165,000 after acquiring an additional 113,115 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.