Brokerages Set Adicet Bio, Inc. (NASDAQ:ACET) Price Target at $14.20

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have been given an average rating of “Buy” by the five analysts that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $14.20.

Several equities research analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Adicet Bio in a research note on Monday, July 8th. Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research note on Wednesday, May 15th. Finally, StockNews.com upgraded shares of Adicet Bio to a “sell” rating in a research note on Monday, May 20th.

Adicet Bio Stock Performance

Shares of ACET opened at $1.33 on Wednesday. The company has a 50 day moving average price of $1.35 and a 200-day moving average price of $1.92. Adicet Bio has a fifty-two week low of $1.05 and a fifty-two week high of $3.77. The stock has a market capitalization of $109.29 million, a PE ratio of -0.45 and a beta of 1.80.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting the consensus estimate of ($0.35). Equities research analysts forecast that Adicet Bio will post -1.37 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. American International Group Inc. boosted its holdings in shares of Adicet Bio by 74.2% in the 1st quarter. American International Group Inc. now owns 26,319 shares of the company’s stock valued at $62,000 after acquiring an additional 11,214 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Adicet Bio in the 1st quarter valued at $28,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Adicet Bio in the 1st quarter valued at $37,000. Bayesian Capital Management LP purchased a new stake in shares of Adicet Bio in the 1st quarter valued at $90,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Adicet Bio in the 4th quarter valued at $98,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

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.