Adicet Bio (NASDAQ:ACET) Earns “Market Perform” Rating from JMP Securities

Adicet Bio (NASDAQ:ACET)‘s stock had its “market perform” rating reaffirmed by research analysts at JMP Securities in a research note issued on Thursday,Benzinga reports.

Several other equities research analysts also recently commented on the stock. StockNews.com downgraded shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research report on Thursday, November 7th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Adicet Bio presently has an average rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Trading Down 5.8 %

NASDAQ:ACET opened at $0.97 on Thursday. Adicet Bio has a 12 month low of $0.81 and a 12 month high of $3.50. The firm’s 50 day moving average is $0.95 and its 200 day moving average is $1.23. The stock has a market capitalization of $79.93 million, a PE ratio of -0.57 and a beta of 1.86.

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

Institutional Investors Weigh In On Adicet Bio

Institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP bought a new stake in Adicet Bio during the 2nd quarter worth approximately $43,000. GSA Capital Partners LLP grew its position in shares of Adicet Bio by 161.3% during the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after purchasing an additional 24,203 shares in the last quarter. Castleview Partners LLC bought a new position in shares of Adicet Bio in the third quarter worth $75,000. JPMorgan Chase & Co. raised its position in shares of Adicet Bio by 10,321.9% in the third quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after buying an additional 79,582 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in Adicet Bio by 478.3% during the second quarter. AQR Capital Management LLC now owns 136,765 shares of the company’s stock valued at $165,000 after buying an additional 113,115 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.