Guggenheim Reiterates Buy Rating for Adicet Bio (NASDAQ:ACET)

Adicet Bio (NASDAQ:ACET)‘s stock had its “buy” rating reiterated by stock analysts at Guggenheim in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $7.00 target price on the stock.

Several other research analysts have also recently weighed in on ACET. HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a research report on Friday, March 7th. JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Adicet Bio presently has a consensus rating of “Hold” and an average target price of $7.50.

Adicet Bio Price Performance

ACET stock opened at $0.77 on Friday. The stock has a market capitalization of $63.35 million, a P/E ratio of -0.45 and a beta of 1.97. The business has a 50-day moving average of $0.89 and a 200-day moving average of $1.10. Adicet Bio has a fifty-two week low of $0.74 and a fifty-two week high of $2.43.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.05. Equities analysts expect that Adicet Bio will post -1.39 EPS for the current year.

Institutional Trading of Adicet Bio

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bridgeway Capital Management LLC raised its holdings in 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 acquiring an additional 175,000 shares in the last quarter. Regeneron Pharmaceuticals Inc. bought a new stake in Adicet Bio in the fourth quarter valued at approximately $931,000. Two Sigma Advisers LP raised its stake in Adicet Bio by 12.4% in the fourth quarter. Two Sigma Advisers LP now owns 794,039 shares of the company’s stock valued at $764,000 after buying an additional 87,400 shares during the period. Geode Capital Management LLC raised its stake in Adicet Bio by 14.5% in the third quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock valued at $1,107,000 after buying an additional 97,567 shares during the period. Finally, Stonepine Capital Management LLC raised its stake in Adicet Bio by 14.9% in the fourth quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock valued at $673,000 after buying an additional 90,554 shares during the period. 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.