Wedbush reissued their outperform rating on shares of Adicet Bio (NASDAQ:ACET – Get Rating) in a research note released on Thursday, Benzinga reports. Wedbush currently has a $30.00 price target on the stock. Wedbush also issued estimates for Adicet Bio’s Q1 2024 earnings at ($0.80) EPS, Q2 2024 earnings at ($0.83) EPS, Q3 2024 earnings at ($0.87) EPS, Q4 2024 earnings at ($0.91) EPS and FY2027 earnings at $6.39 EPS.
Several other analysts have also issued reports on ACET. StockNews.com assumed coverage on shares of Adicet Bio in a research report on Thursday. They issued a sell rating on the stock. HC Wainwright lifted their target price on shares of Adicet Bio from $34.00 to $38.00 and gave the company a buy rating in a research report on Monday, December 12th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $27.50.
Adicet Bio Stock Performance
ACET stock opened at $7.43 on Thursday. The firm has a market cap of $318.38 million, a PE ratio of -4.35 and a beta of 2.35. The firm’s fifty day moving average is $8.20 and its 200 day moving average is $12.62. Adicet Bio has a one year low of $6.82 and a one year high of $21.87.
Insider Transactions at Adicet Bio
Hedge Funds Weigh In On Adicet Bio
Several hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Middle East FZE purchased a new position in Adicet Bio during the fourth quarter worth about $110,000. MetLife Investment Management LLC raised its stake in Adicet Bio by 25.8% during the fourth quarter. MetLife Investment Management LLC now owns 15,993 shares of the company’s stock worth $143,000 after purchasing an additional 3,276 shares during the period. Squarepoint Ops LLC purchased a new position in Adicet Bio during the fourth quarter worth about $145,000. Tang Capital Management LLC purchased a new position in Adicet Bio during the fourth quarter worth about $5,364,000. Finally, AQR Capital Management LLC raised its stake in Adicet Bio by 27.4% during the fourth quarter. AQR Capital Management LLC now owns 15,933 shares of the company’s stock worth $142,000 after purchasing an additional 3,423 shares during the period.
Adicet Bio Company Profile
Adicet Bio, Inc is a biotechnology company, which engages in the design and development of off-the-shelf allogeneic gamma delta T cell therapies for cancer and other diseases. The company was founded by Aya Jakobovits in November 2014 and is headquartered in Boston, MA.
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