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

Adicet Bio (NASDAQ:ACET)‘s stock had its “neutral” rating reissued by HC Wainwright in a report issued on Monday, Benzinga reports.

ACET has been the topic of several other research reports. StockNews.com downgraded Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Canaccord Genuity Group lowered their price target on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a report on Friday, September 20th. Finally, Guggenheim began coverage on shares of Adicet Bio in a report on Monday. They set a “buy” rating and a $7.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Adicet Bio has an average rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Trading Up 3.5 %

Shares of ACET traded up $0.05 during trading hours on Monday, reaching $1.48. 167,319 shares of the company’s stock traded hands, compared to its average volume of 1,217,411. Adicet Bio has a 12 month low of $1.05 and a 12 month high of $3.77. The stock has a market cap of $121.95 million, a PE ratio of -0.50 and a beta of 1.79. The firm’s 50 day simple moving average is $1.45 and its 200-day simple moving average is $1.58.

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

Institutional Trading of Adicet Bio

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in Adicet Bio during the 1st quarter valued at about $28,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Adicet Bio in the 1st quarter worth approximately $37,000. American International Group Inc. grew its stake in shares of Adicet Bio by 74.2% in the 1st quarter. American International Group Inc. now owns 26,319 shares of the company’s stock worth $62,000 after buying an additional 11,214 shares during the last quarter. Point72 DIFC Ltd increased its position in Adicet Bio by 77.5% during the 2nd quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after buying an additional 14,596 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in Adicet Bio during the second quarter valued at $43,000. 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.