HC Wainwright Reiterates Neutral Rating for Adicet Bio (NASDAQ:ACET)

Adicet Bio (NASDAQ:ACET)‘s stock had its “neutral” rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports.

Other research analysts also recently issued research reports about the stock. Guggenheim initiated coverage on shares of Adicet Bio in a report on Monday. They set a “buy” rating and a $7.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research report on Friday, September 20th. StockNews.com downgraded Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th. Finally, Canaccord Genuity Group lowered their price objective on Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Adicet Bio currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Stock Up 3.5 %

ACET traded up $0.05 during trading on Monday, hitting $1.48. The company’s stock had a trading volume of 167,319 shares, compared to its average volume of 1,217,411. The stock’s fifty day moving average price is $1.45 and its 200-day moving average price is $1.58. The firm has a market capitalization of $121.95 million, a P/E ratio of -0.50 and a beta of 1.79. Adicet Bio has a twelve month low of $1.05 and a twelve month high of $3.77.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.03. Equities research analysts expect that Adicet Bio will post -1.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACET. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Adicet Bio in the first quarter valued at approximately $28,000. Price T Rowe Associates Inc. MD bought a new position in Adicet Bio in the 1st quarter valued at $37,000. Point72 DIFC Ltd raised its stake in shares of Adicet Bio by 77.5% during the 2nd quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock worth $40,000 after purchasing an additional 14,596 shares during the period. Marshall Wace LLP purchased a new stake in shares of Adicet Bio during the 2nd quarter worth approximately $43,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Adicet Bio in the second quarter valued at approximately $62,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

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.