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

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

Several other equities analysts also recently issued reports on ACET. Wedbush restated an “outperform” rating and set a $5.00 target price on shares of Adicet Bio in a research report on Thursday, November 7th. JMP Securities reaffirmed a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Stock Performance

Adicet Bio stock opened at $0.80 on Friday. The firm has a 50 day moving average price of $0.93 and a 200 day moving average price of $1.15. Adicet Bio has a fifty-two week low of $0.79 and a fifty-two week high of $2.52. The company has a market capitalization of $65.60 million, a PE ratio of -0.47 and a beta of 1.97.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Thursday, March 6th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05. As a group, equities research analysts forecast that Adicet Bio will post -1.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Squarepoint Ops LLC acquired a new stake in Adicet Bio during the fourth quarter worth about $177,000. Two Sigma Advisers LP raised its position in shares of Adicet Bio by 12.4% in the 4th quarter. Two Sigma Advisers LP now owns 794,039 shares of the company’s stock valued at $764,000 after purchasing an additional 87,400 shares in the last quarter. Stonepine Capital Management LLC boosted its stake in Adicet Bio by 14.9% during the 4th quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock valued at $673,000 after acquiring an additional 90,554 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Adicet Bio by 20.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock worth $988,000 after purchasing an additional 175,000 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Adicet Bio by 25.1% during the 4th quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock worth $135,000 after buying an additional 28,153 shares during the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Company Profile

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.