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 report released on Wednesday,Benzinga reports.

A number of other equities analysts have also issued reports on ACET. StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Adicet Bio currently has a consensus rating of “Hold” and an average target price of $7.50.

Adicet Bio Stock Performance

NASDAQ ACET opened at $0.97 on Wednesday. Adicet Bio has a one year low of $0.81 and a one year high of $3.50. The company has a 50-day simple moving average of $0.95 and a 200-day simple moving average of $1.23. The firm has a market capitalization of $79.93 million, a PE ratio of -0.57 and a beta of 1.86.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in Adicet Bio by 10,321.9% in the third quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock valued at $116,000 after acquiring an additional 79,582 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of Adicet Bio by 790.1% in 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 during the last quarter. Geode Capital Management LLC increased its position in shares of Adicet Bio by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock worth $1,107,000 after purchasing an additional 97,567 shares in the last quarter. GSA Capital Partners LLP lifted 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 purchasing an additional 24,203 shares during the last quarter. Finally, FMR LLC boosted its position in Adicet Bio by 31.3% in the third quarter. FMR LLC now owns 276,169 shares of the company’s stock valued at $398,000 after buying an additional 65,903 shares in the last quarter. Institutional investors and hedge funds 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.