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

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have earned an average rating of “Moderate Buy” from the five analysts that are covering the company, MarketBeat 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 12 month target price among brokerages that have issued a report on the stock in the last year is $7.50.

Several analysts have recently issued reports on the stock. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research report on Friday, March 7th. Guggenheim reaffirmed a “buy” rating and issued a $7.00 price target on shares of Adicet Bio in a report on Friday, March 21st. StockNews.com started coverage on Adicet Bio in a research report on Saturday, April 19th. They issued a “sell” rating for the company. Finally, JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th.

Institutional Trading of Adicet Bio

Several institutional investors and hedge funds have recently modified their holdings of the business. Bridgeway Capital Management LLC increased its position in shares of Adicet Bio by 20.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock worth $988,000 after purchasing an additional 175,000 shares during the last quarter. Regeneron Pharmaceuticals Inc. bought a new position in shares of Adicet Bio in the 4th quarter worth $931,000. Two Sigma Advisers LP raised its position in shares of Adicet Bio by 12.4% during the 4th quarter. Two Sigma Advisers LP now owns 794,039 shares of the company’s stock valued at $764,000 after buying an additional 87,400 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 acquiring an additional 97,567 shares during the last quarter. Finally, Stonepine Capital Management LLC grew its position in Adicet Bio by 14.9% in the fourth quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock worth $673,000 after acquiring an additional 90,554 shares in the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Stock Down 4.6 %

ACET opened at $0.59 on Tuesday. The stock has a market cap of $48.44 million, a price-to-earnings ratio of -0.34 and a beta of 1.99. The company’s 50-day moving average price is $0.74 and its two-hundred day moving average price is $0.95. Adicet Bio has a twelve month low of $0.45 and a twelve month high of $1.87.

Adicet Bio (NASDAQ:ACET) last issued its earnings results on Thursday, March 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.05. As a group, sell-side analysts anticipate that Adicet Bio will post -1.39 earnings per share 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.