Adicet Bio (NASDAQ:ACET) Earns “Neutral” Rating from HC Wainwright

Adicet Bio (NASDAQ:ACET)‘s stock had its “neutral” rating reiterated by HC Wainwright in a research report issued on Monday,Benzinga reports.

A number of other research firms also recently weighed in on ACET. Canaccord Genuity Group lowered their target price on Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a report on Thursday, November 7th. StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a research report on Thursday, November 7th. Finally, Guggenheim initiated coverage on shares of Adicet Bio in a research report on Monday, September 30th. They issued a “buy” rating and a $7.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Stock Up 6.4 %

Shares of NASDAQ ACET opened at $1.03 on Monday. The firm’s 50-day moving average price is $1.37 and its 200-day moving average price is $1.40. Adicet Bio has a 52-week low of $0.93 and a 52-week high of $3.77. The company has a market cap of $84.87 million, a PE ratio of -0.60 and a beta of 1.81.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, hitting analysts’ consensus estimates of ($0.34). As a group, equities research analysts anticipate that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Trading of Adicet Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Adicet Bio in the 1st quarter worth $28,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Adicet Bio during the first quarter worth about $37,000. Point72 DIFC Ltd raised its stake in Adicet Bio by 77.5% during the 2nd quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after purchasing an additional 14,596 shares during the period. Marshall Wace LLP purchased a new position in Adicet Bio in the 2nd quarter worth approximately $43,000. Finally, GSA Capital Partners LLP boosted its stake in Adicet Bio by 161.3% in the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after purchasing an additional 24,203 shares during the period. 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.