Adicet Bio (NASDAQ:ACET) Stock Rating Reaffirmed by HC Wainwright

Adicet Bio (NASDAQ:ACET)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $10.00 price target on the stock.

ACET has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a research note on Wednesday, May 15th. Canaccord Genuity Group reiterated a “buy” rating and issued a $19.00 price objective on shares of Adicet Bio in a research note on Wednesday, March 20th. Finally, StockNews.com upgraded Adicet Bio to a “sell” rating in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.20.

Adicet Bio Stock Performance

ACET traded up $0.10 during midday trading on Monday, reaching $1.47. 348,864 shares of the company were exchanged, compared to its average volume of 1,416,990. Adicet Bio has a one year low of $1.10 and a one year high of $4.81. The company’s fifty day moving average price is $1.58 and its 200 day moving average price is $2.09. The company has a market cap of $120.80 million, a price-to-earnings ratio of -0.48 and a beta of 1.94.

Adicet Bio (NASDAQ:ACET) last announced its earnings results on Tuesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.35). As a group, sell-side analysts anticipate that Adicet Bio will post -1.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its holdings in shares of Adicet Bio by 2,182.5% in the third quarter. Acadian Asset Management LLC now owns 523,009 shares of the company’s stock worth $715,000 after purchasing an additional 500,095 shares during the period. Panagora Asset Management Inc. bought a new position in shares of Adicet Bio in the fourth quarter worth $98,000. Exchange Traded Concepts LLC increased its holdings in shares of Adicet Bio by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 81,986 shares of the company’s stock worth $155,000 after purchasing an additional 20,790 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of Adicet Bio in the first quarter worth $37,000. Finally, Vanguard Group Inc. increased its holdings in shares of Adicet Bio by 85.5% in the first quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after purchasing an additional 1,441,503 shares during the period. 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.