Adicet Bio’s (ACET) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Adicet Bio (NASDAQ:ACET) in a report published on Wednesday, RTT News reports. They currently have a $5.00 price objective on the stock. Wedbush also issued estimates for Adicet Bio’s Q2 2024 earnings at ($0.37) EPS, Q3 2024 earnings at ($0.38) EPS, Q4 2024 earnings at ($0.38) EPS, FY2024 earnings at ($1.49) EPS, Q1 2025 earnings at ($0.31) EPS, Q2 2025 earnings at ($0.32) EPS, Q3 2025 earnings at ($0.32) EPS, Q4 2025 earnings at ($0.31) EPS, FY2025 earnings at ($1.26) EPS, FY2026 earnings at ($1.23) EPS and FY2027 earnings at ($1.16) EPS.

ACET has been the topic of several other research reports. StockNews.com raised shares of Adicet Bio to a sell rating in a research note on Friday, March 22nd. Canaccord Genuity Group reissued a buy rating and issued a $19.00 price target on shares of Adicet Bio in a report on Wednesday, March 20th. Finally, HC Wainwright reaffirmed a buy rating and set a $10.00 price objective on shares of Adicet Bio in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $12.83.

Adicet Bio Stock Performance

Shares of Adicet Bio stock opened at $1.60 on Wednesday. The firm has a fifty day moving average of $1.97 and a two-hundred day moving average of $2.04. The stock has a market capitalization of $131.47 million, a price-to-earnings ratio of -0.54 and a beta of 1.94. Adicet Bio has a 52 week low of $1.10 and a 52 week high of $6.71.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Tuesday, March 19th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.03. As a group, research analysts forecast that Adicet Bio will post -1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Institutional investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. bought a new stake in shares of Adicet Bio in the first quarter valued at about $17,721,000. Vanguard Group Inc. lifted its stake in Adicet Bio by 85.5% in the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock valued at $7,347,000 after acquiring an additional 1,441,503 shares in the last quarter. Blackstone Inc. acquired a new position in Adicet Bio during the 1st quarter worth approximately $2,906,000. Carlyle Group Inc. grew its stake in shares of Adicet Bio by 39.4% during the 1st quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock worth $6,900,000 after acquiring an additional 833,333 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of Adicet Bio by 2,182.5% during the 3rd quarter. Acadian Asset Management LLC now owns 523,009 shares of the company’s stock worth $715,000 after acquiring an additional 500,095 shares in the last quarter. 83.89% of the stock is owned by institutional investors.

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.