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

Adicet Bio, Inc. (NASDAQ:ACET) has earned an average rating of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $7.50.

A number of brokerages have weighed in on ACET. JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. Wedbush reissued an “outperform” rating and set a $5.00 target price on shares of Adicet Bio in a report on Thursday, November 7th. StockNews.com cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a report on Wednesday, February 5th.

Institutional Trading of Adicet Bio

A number of large investors have recently modified their holdings of the company. GSA Capital Partners LLP increased 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 worth $56,000 after acquiring an additional 24,203 shares during the period. Virtu Financial LLC acquired a new stake in shares of Adicet Bio in the 4th quarter worth about $29,000. XTX Topco Ltd increased its holdings in shares of Adicet Bio by 12.5% in the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock worth $421,000 after acquiring an additional 32,392 shares during the period. Marshall Wace LLP acquired a new stake in shares of Adicet Bio in the 2nd quarter worth about $43,000. Finally, Castleview Partners LLC acquired a new stake in shares of Adicet Bio in the 3rd quarter worth about $75,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

Adicet Bio Price Performance

NASDAQ ACET opened at $0.87 on Thursday. The company has a market capitalization of $71.40 million, a price-to-earnings ratio of -0.51 and a beta of 1.86. Adicet Bio has a 12 month low of $0.81 and a 12 month high of $3.10. The company’s fifty day moving average price is $0.94 and its two-hundred day moving average price is $1.21.

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.