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

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

In other news, CTO Don Healey sold 4,533 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $7.57, for a total value of $34,314.81. Following the transaction, the chief technology officer now directly owns 66,568 shares of the company’s stock, valued at $503,919.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 29.20% of the company’s stock.

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

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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.