Adicet Bio, Inc. (NASDAQ:ACET) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have received an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. Two 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 brokerages that have issued ratings on the stock in the last year is $7.50.

Several research firms have commented on ACET. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research note on Wednesday, February 5th. Wedbush reissued an “outperform” rating and set a $5.00 target price on shares of Adicet Bio in a research note on Thursday, November 7th. StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Finally, JMP Securities restated a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th.

Hedge Funds Weigh In On Adicet Bio

Several large investors have recently made changes to their positions in the business. GSA Capital Partners LLP boosted its position 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 purchasing an additional 24,203 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Adicet Bio in the fourth quarter worth about $29,000. XTX Topco Ltd boosted its holdings in shares of Adicet Bio by 12.5% in the third quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock worth $421,000 after buying an additional 32,392 shares during the period. Marshall Wace LLP acquired a new position in shares of Adicet Bio in the second quarter worth about $43,000. Finally, Castleview Partners LLC acquired a new position in shares of Adicet Bio in the third quarter worth about $75,000. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Trading Down 3.8 %

Adicet Bio stock opened at $0.87 on Thursday. The stock has a market cap of $71.40 million, a price-to-earnings ratio of -0.51 and a beta of 1.86. The company’s 50-day moving average price is $0.94 and its two-hundred day moving average price is $1.21. Adicet Bio has a 52 week low of $0.81 and a 52 week high of $3.10.

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.