JMP Securities Reiterates “Buy” Rating for Adicet Bio (NASDAQ:ACET)

Adicet Bio (NASDAQ:ACET – Get Rating)‘s stock had its “buy” rating reaffirmed by equities research analysts at JMP Securities in a report issued on Friday. They currently have a $19.00 price objective on the stock. JMP Securities’ price objective indicates a potential upside of 155.72% from the company’s previous close.

Several other analysts also recently commented on the stock. StockNews.com initiated coverage on shares of Adicet Bio in a report on Thursday. They set a “sell” rating on the stock. HC Wainwright restated a “buy” rating and set a $38.00 target price on shares of Adicet Bio in a report on Thursday. Finally, Wedbush reiterated an “outperform” rating and issued a $30.00 price objective on shares of Adicet Bio in a report on Thursday. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Adicet Bio Stock Performance

Shares of ACET stock opened at $7.43 on Friday. The company has a market capitalization of $318.38 million, a P/E ratio of -4.35 and a beta of 2.35. The company’s 50 day moving average price is $8.20 and its two-hundred day moving average price is $12.62. Adicet Bio has a 52 week low of $6.82 and a 52 week high of $21.87.

Insider Activity

In other news, CTO Don Healey sold 10,467 shares of Adicet Bio stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $7.98, for a total value of $83,526.66. Following the sale, the chief technology officer now directly owns 71,101 shares in the company, valued at $567,385.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 29.20% of the stock is owned by corporate insiders.

Institutional Trading of Adicet Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in ACET. Group One Trading L.P. acquired a new position in Adicet Bio during the second quarter worth $219,000. Ensign Peak Advisors Inc increased its holdings in Adicet Bio by 11.1% during the third quarter. Ensign Peak Advisors Inc now owns 109,389 shares of the company’s stock worth $1,556,000 after buying an additional 10,970 shares during the last quarter. Annandale Capital LLC acquired a new position in Adicet Bio during the third quarter worth $65,000. Allspring Global Investments Holdings LLC increased its holdings in Adicet Bio by 9,188.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 46,535 shares of the company’s stock worth $661,000 after buying an additional 46,034 shares during the last quarter. Finally, International Biotechnology Trust PLC acquired a new position in Adicet Bio during the third quarter worth $2,195,000.

About Adicet Bio

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Adicet Bio, Inc is a biotechnology company, which engages in the design and development of off-the-shelf allogeneic gamma delta T cell therapies for cancer and other diseases. The company was founded by Aya Jakobovits in November 2014 and is headquartered in Boston, MA.