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

Adicet Bio (NASDAQ:ACET)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a note issued to investors on Thursday,Benzinga reports.

ACET has been the subject of a number of other reports. StockNews.com downgraded Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Canaccord Genuity Group lowered their price target on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Guggenheim began coverage on shares of Adicet Bio in a research report on Monday, September 30th. They issued a “buy” rating and a $7.00 price objective on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.50.

Adicet Bio Stock Up 5.8 %

NASDAQ:ACET opened at $0.91 on Thursday. Adicet Bio has a 52 week low of $0.81 and a 52 week high of $3.77. The company has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $1.31. The company has a market cap of $74.98 million, a price-to-earnings ratio of -0.53 and a beta of 1.88.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.34). On average, analysts expect that Adicet Bio will post -1.39 EPS for the current year.

Hedge Funds Weigh In On Adicet Bio

A number of institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd grew its stake in shares of Adicet Bio by 77.5% in 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 last quarter. Marshall Wace LLP acquired a new stake in shares of Adicet Bio during the second quarter worth $43,000. GSA Capital Partners LLP grew its position in Adicet Bio by 161.3% in the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after buying an additional 24,203 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Adicet Bio in the 2nd quarter valued at $62,000. Finally, Castleview Partners LLC acquired a new position in Adicet Bio in the 3rd quarter valued at $75,000. 83.89% of the stock is owned by institutional investors and hedge funds.

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.