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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $7.50.

ACET has been the subject of several recent analyst reports. HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a report on Friday, March 7th. JMP Securities restated a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. Finally, Guggenheim reaffirmed a “buy” rating and set a $7.00 price target on shares of Adicet Bio in a research report on Friday, March 21st.

Institutional Trading of Adicet Bio

A number of institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in Adicet Bio by 31.3% during the third quarter. FMR LLC now owns 276,169 shares of the company’s stock valued at $398,000 after buying an additional 65,903 shares in the last quarter. RBF Capital LLC raised its stake in shares of Adicet Bio by 62.5% in the 3rd quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock valued at $866,000 after acquiring an additional 231,135 shares during the period. XTX Topco Ltd lifted its holdings in shares of Adicet Bio by 12.5% during the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock valued at $421,000 after acquiring an additional 32,392 shares in the last quarter. Geode Capital Management LLC boosted its position in Adicet Bio by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock worth $1,107,000 after purchasing an additional 97,567 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Adicet Bio by 10,321.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock valued at $116,000 after purchasing an additional 79,582 shares in the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Stock Performance

Shares of NASDAQ ACET opened at $0.85 on Friday. The firm’s 50 day moving average price is $0.89 and its 200 day moving average price is $1.09. The firm has a market cap of $70.28 million, a P/E ratio of -0.50 and a beta of 1.97. Adicet Bio has a 1 year low of $0.74 and a 1 year high of $2.43.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.05. As a group, equities analysts predict that Adicet Bio will post -1.39 EPS for the current 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.