Adicet Bio (NASDAQ:ACET) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their outperform rating on shares of Adicet Bio (NASDAQ:ACET) in a research report released on Tuesday morning, RTT News reports. They currently have a $5.00 price objective on the stock. Wedbush also issued estimates for Adicet Bio’s FY2026 earnings at ($1.11) EPS, FY2027 earnings at ($1.07) EPS and FY2028 earnings at ($1.03) EPS.

Several other analysts have also commented on the stock. HC Wainwright reissued a buy rating and set a $10.00 target price on shares of Adicet Bio in a research note on Wednesday, August 14th. StockNews.com upgraded Adicet Bio from a sell rating to a hold rating in a research report on Friday, August 30th. Finally, Canaccord Genuity Group restated a buy rating and issued a $19.00 target price on shares of Adicet Bio in a report on Wednesday, August 14th.

Adicet Bio Price Performance

NASDAQ ACET opened at $1.49 on Tuesday. Adicet Bio has a 12 month low of $1.05 and a 12 month high of $3.77. The firm has a market capitalization of $122.78 million, a PE ratio of -0.51 and a beta of 1.79. The company’s 50 day simple moving average is $1.41 and its 200 day simple moving average is $1.66.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.03. Sell-side analysts anticipate that Adicet Bio will post -1.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in ACET. Mirae Asset Global Investments Co. Ltd. bought a new position in Adicet Bio during the first quarter valued at approximately $28,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Adicet Bio in the 1st quarter valued at $37,000. Point72 DIFC Ltd boosted its holdings in Adicet Bio by 77.5% in the second quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock worth $40,000 after purchasing an additional 14,596 shares in the last quarter. Marshall Wace LLP acquired a new position in Adicet Bio during the second quarter worth $43,000. Finally, American International Group Inc. raised its holdings in Adicet Bio by 74.2% during the first quarter. American International Group Inc. now owns 26,319 shares of the company’s stock valued at $62,000 after buying an additional 11,214 shares in the last quarter. 83.89% of the stock is owned by hedge funds and other 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.