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

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

A number of other brokerages also recently issued reports on ACET. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a research note on Tuesday, September 10th. Canaccord Genuity Group lowered their target price on Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, StockNews.com cut Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th.

Adicet Bio Stock Up 7.2 %

Adicet Bio stock traded up $0.11 during mid-day trading on Thursday, hitting $1.57. 94,044 shares of the stock were exchanged, compared to its average volume of 1,250,896. The firm’s fifty day simple moving average is $1.43 and its two-hundred day simple moving average is $1.63. Adicet Bio has a 12 month low of $1.05 and a 12 month high of $3.77. The stock has a market capitalization of $128.96 million, a price-to-earnings ratio of -0.53 and a beta of 1.79.

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

Hedge Funds Weigh In On Adicet Bio

A number of institutional investors and hedge funds have recently made changes to their positions in ACET. Vanguard Group Inc. raised its stake in Adicet Bio by 85.5% during the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after buying an additional 1,441,503 shares during the period. Acadian Asset Management LLC raised its position in shares of Adicet Bio by 205.4% during the second quarter. Acadian Asset Management LLC now owns 1,085,093 shares of the company’s stock worth $1,312,000 after purchasing an additional 729,750 shares during the period. Price T Rowe Associates Inc. MD bought a new position in shares of Adicet Bio in the 1st quarter worth $37,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Adicet Bio in the 1st quarter worth $28,000. Finally, American International Group Inc. grew its position in Adicet Bio by 74.2% in the 1st quarter. American International Group Inc. now owns 26,319 shares of the company’s stock valued at $62,000 after purchasing an additional 11,214 shares during the period. Institutional investors own 83.89% of the company’s stock.

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.