Adicet Bio’s (ACET) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Adicet Bio (NASDAQ:ACET) in a research note published on Monday,Benzinga reports.

A number of other brokerages have also 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. StockNews.com downgraded shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Canaccord Genuity Group dropped their price target on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Guggenheim started coverage on shares of Adicet Bio in a research note on Monday, September 30th. They set a “buy” rating and a $7.00 price target for the company. 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 company. According to data from MarketBeat.com, Adicet Bio presently has a consensus rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Price Performance

Shares of NASDAQ:ACET opened at $0.97 on Monday. The company’s 50-day moving average price is $1.36 and its two-hundred day moving average price is $1.39. Adicet Bio has a one year low of $0.93 and a one year high of $3.77. The stock has a market capitalization of $79.69 million, a PE ratio of -0.57 and a beta of 1.81.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, hitting the consensus estimate of ($0.34). On average, analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Large investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Adicet Bio during the first quarter valued at about $28,000. Price T Rowe Associates Inc. MD bought a new stake in Adicet Bio in the first quarter worth about $37,000. Point72 DIFC Ltd raised its position in shares of Adicet Bio by 77.5% in the second quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after purchasing an additional 14,596 shares during the period. Marshall Wace LLP bought a new stake in shares of Adicet Bio in the second quarter valued at approximately $43,000. Finally, GSA Capital Partners LLP raised its position in shares of Adicet Bio by 161.3% in the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after purchasing an additional 24,203 shares during the period. 83.89% of the stock is currently owned by institutional investors and hedge funds.

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.