JMP Securities Reaffirms Market Perform Rating for Adicet Bio (NASDAQ:ACET)

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

A number of other equities analysts have also recently weighed in on ACET. Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a 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. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a research note on Wednesday. One 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, the stock has an average rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Stock Performance

Adicet Bio stock opened at $0.97 on Thursday. Adicet Bio has a fifty-two week low of $0.81 and a fifty-two week high of $3.50. The firm’s fifty day moving average price is $0.95 and its 200-day moving average price is $1.23. The stock has a market cap of $79.93 million, a P/E ratio of -0.57 and a beta of 1.86.

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

Hedge Funds Weigh In On Adicet Bio

A number of large investors have recently bought and sold shares of ACET. Marshall Wace LLP bought a new position in shares of Adicet Bio in the second quarter worth approximately $43,000. GSA Capital Partners LLP raised its holdings in 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 buying an additional 24,203 shares during the last quarter. Castleview Partners LLC purchased a new stake in Adicet Bio during the 3rd quarter valued at $75,000. JPMorgan Chase & Co. grew its holdings in Adicet Bio by 10,321.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after acquiring an additional 79,582 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Adicet Bio by 478.3% in the second quarter. AQR Capital Management LLC now owns 136,765 shares of the company’s stock valued at $165,000 after acquiring 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.