Adicet Bio’s (ACET) “Buy” Rating Reaffirmed at Guggenheim

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

A number of other research analysts have also recently commented on the stock. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a report on Friday, March 7th. JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a research note on Thursday, February 6th. 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Trading Up 0.1 %

NASDAQ ACET traded up $0.00 during midday trading on Friday, hitting $0.77. The company had a trading volume of 4,791 shares, compared to its average volume of 806,173. The firm has a 50-day moving average price of $0.89 and a 200-day moving average price of $1.11. The company has a market capitalization of $63.25 million, a PE ratio of -0.45 and a beta of 1.97. Adicet Bio has a twelve month low of $0.74 and a twelve month high of $2.43.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. On average, equities analysts anticipate that Adicet Bio will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP boosted its stake in shares of Adicet Bio by 161.3% in 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. FMR LLC boosted its position in Adicet Bio by 31.3% during the third quarter. FMR LLC now owns 276,169 shares of the company’s stock valued at $398,000 after acquiring an additional 65,903 shares during the last quarter. RBF Capital LLC boosted its position in Adicet Bio by 62.5% during the third quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock valued at $866,000 after acquiring an additional 231,135 shares during the last quarter. XTX Topco Ltd lifted its stake in shares of Adicet Bio by 12.5% in the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock valued at $421,000 after purchasing an additional 32,392 shares during the period. Finally, Geode Capital Management LLC boosted 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 valued at $1,107,000 after purchasing an additional 97,567 shares in the last quarter. 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.