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

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

A number of analysts have recently issued reports on ACET shares. Guggenheim reaffirmed a “buy” rating and set a $7.00 target price on shares of Adicet Bio in a research report on Friday, March 21st. JMP Securities restated a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research note on Friday, March 7th.

Institutional Trading of Adicet Bio

Several institutional investors and hedge funds have recently bought and sold shares of ACET. Virtu Financial LLC bought a new stake in shares of Adicet Bio in the 4th quarter valued at approximately $29,000. Wealthedge Investment Advisors LLC bought a new stake in Adicet Bio during the fourth quarter valued at $71,000. JPMorgan Chase & Co. raised its holdings in shares of 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 purchasing an additional 79,582 shares during the period. Northern Trust Corp lifted its position in shares of Adicet Bio by 25.1% in the 4th quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock worth $135,000 after buying an additional 28,153 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Adicet Bio in the 4th quarter worth about $177,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

Adicet Bio Stock Down 5.2 %

ACET opened at $0.85 on Friday. The firm’s 50 day moving average is $0.89 and its 200-day moving average is $1.09. Adicet Bio has a 52-week low of $0.74 and a 52-week high of $2.43. The firm has a market capitalization of $70.28 million, a P/E ratio of -0.50 and a beta of 1.97.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. Equities analysts expect that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

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.