Adicet Bio, Inc. (NASDAQ:ACET) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $7.50.

A number of brokerages have issued reports on ACET. JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a research note on Friday. Finally, StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th.

Institutional Investors Weigh In On Adicet Bio

A number of large investors have recently modified their holdings of ACET. Virtu Financial LLC bought a new stake in Adicet Bio during the fourth quarter worth about $29,000. GSA Capital Partners LLP boosted 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 in the last quarter. JPMorgan Chase & Co. boosted 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 in the last quarter. Northern Trust Corp boosted its stake in Adicet Bio by 25.1% during the fourth quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock worth $135,000 after acquiring an additional 28,153 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Adicet Bio during the fourth quarter worth about $177,000. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Stock Down 5.9 %

Shares of Adicet Bio stock opened at $0.80 on Monday. The firm has a market cap of $65.60 million, a PE ratio of -0.47 and a beta of 1.97. Adicet Bio has a 12-month low of $0.79 and a 12-month high of $2.52. The company’s fifty day simple moving average is $0.93 and its two-hundred day simple moving average is $1.15.

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

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.