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

Adicet Bio, Inc. (NASDAQ:ACET) has received a consensus rating of “Moderate Buy” from the four analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $7.50.

ACET has been the subject of a number of recent research reports. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research note on Wednesday. StockNews.com cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. JMP Securities restated a “market perform” rating on shares of Adicet Bio in a research report on Thursday. Finally, Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Adicet Bio in a research report on Thursday, November 7th.

Institutional Trading of Adicet Bio

Several institutional investors have recently made changes to their positions in ACET. Marshall Wace LLP purchased a new stake in shares of Adicet Bio during the 2nd quarter valued at $43,000. GSA Capital Partners LLP grew its stake in shares of Adicet Bio by 161.3% during the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after buying an additional 24,203 shares during the period. Castleview Partners LLC purchased a new stake in shares of Adicet Bio during the 3rd quarter valued at $75,000. JPMorgan Chase & Co. grew its stake in shares of Adicet Bio by 10,321.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock valued at $116,000 after buying an additional 79,582 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Adicet Bio by 478.3% during the 2nd quarter. AQR Capital Management LLC now owns 136,765 shares of the company’s stock valued at $165,000 after buying an additional 113,115 shares during the period. 83.89% of the stock is owned by hedge funds and other institutional investors.

Adicet Bio Price Performance

Adicet Bio stock traded up $0.02 during mid-day trading on Thursday, reaching $1.03. The company had a trading volume of 1,026,179 shares, compared to its average volume of 1,232,607. Adicet Bio has a 1 year low of $0.81 and a 1 year high of $3.50. The company has a market capitalization of $84.46 million, a P/E ratio of -0.60 and a beta of 1.86. The stock’s 50-day simple moving average is $0.96 and its 200-day simple moving average is $1.23.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.34). On average, equities analysts forecast that Adicet Bio will post -1.39 EPS 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.