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

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

Several other research analysts also recently issued reports on the stock. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a research report on Thursday, November 7th. StockNews.com downgraded shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Adicet Bio presently has an average rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Stock Performance

Shares of NASDAQ:ACET opened at $1.03 on Wednesday. Adicet Bio has a 52-week low of $0.81 and a 52-week high of $3.50. The company has a market cap of $84.87 million, a P/E ratio of -0.60 and a beta of 1.86. The stock’s 50-day moving average is $0.96 and its 200-day moving average is $1.23.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.34). As a group, equities analysts predict that Adicet Bio will post -1.39 EPS for the current year.

Hedge Funds Weigh In On Adicet Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACET. Marshall Wace LLP bought a new stake in shares of Adicet Bio in the second quarter valued at about $43,000. Squarepoint Ops LLC raised its stake in Adicet Bio by 2,728.8% in the 2nd quarter. Squarepoint Ops LLC now owns 362,230 shares of the company’s stock worth $438,000 after purchasing an additional 349,425 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Adicet Bio by 478.3% in the 2nd quarter. AQR Capital Management LLC now owns 136,765 shares of the company’s stock valued at $165,000 after purchasing an additional 113,115 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of Adicet Bio by 790.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 409,049 shares of the company’s stock worth $495,000 after purchasing an additional 363,095 shares in the last quarter. Finally, Castleview Partners LLC bought a new position in shares of Adicet Bio during the third quarter worth approximately $75,000. 83.89% of the stock is owned by 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.