Fintel reports that on May 15, 2023, JMP Securities reiterated coverage of Adicet Bio (NASDAQ:ACET) with a Market Outperform recommendation.
Analyst Price Forecast Suggests 341.93% Upside
As of May 11, 2023, the average one-year price target for Adicet Bio is 28.11. The forecasts range from a low of 19.19 to a high of $39.90. The average price target represents an increase of 341.93% from its latest reported closing price of 6.36.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Adicet Bio is 5MM, an increase of ∞%. The projected annual non-GAAP EPS is -2.08.
What is the Fund Sentiment?
There are 255 funds or institutions reporting positions in Adicet Bio. This is an increase of 18 owner(s) or 7.59% in the last quarter. Average portfolio weight of all funds dedicated to ACET is 0.13%, a decrease of 36.28%. Total shares owned by institutions increased in the last three months by 3.21% to 44,555K shares. 
The put/call ratio of ACET is 0.32, indicating a bullish outlook.
What are Other Shareholders Doing?
Orbimed Advisors holds 7,447K shares representing 17.34% ownership of the company. No change in the last quarter.
Rtw Investments holds 4,241K shares representing 9.87% ownership of the company. No change in the last quarter.
EcoR1 Capital holds 3,561K shares representing 8.29% ownership of the company. No change in the last quarter.
Cowen And Company holds 3,144K shares representing 7.32% ownership of the company. No change in the last quarter.
Tang Capital Management holds 2,520K shares representing 5.87% ownership of the company. In it's prior filing, the firm reported owning 600K shares, representing an increase of 76.19%. The firm increased its portfolio allocation in ACET by 177.54% over the last quarter.
Adicet Bio Background Information
(This description is provided by the company.)
Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of 'off-the-shelf' gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
