Adicet Bio’s (ACET) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Adicet Bio (NASDAQ:ACET) in a report issued on Thursday,RTT News reports. They currently have a $5.00 price objective on the stock.

ACET has been the subject of a number of other research reports. Guggenheim started coverage on Adicet Bio in a research note on Monday, September 30th. They issued a “buy” rating and a $7.00 target price for the company. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research report on Wednesday, October 16th. Canaccord Genuity Group dropped their target price on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Trading Down 1.5 %

Shares of NASDAQ ACET opened at $1.31 on Thursday. The firm has a fifty day simple moving average of $1.42 and a two-hundred day simple moving average of $1.42. The firm has a market capitalization of $107.95 million, a PE ratio of -0.77 and a beta of 1.81. Adicet Bio has a 12 month low of $1.05 and a 12 month high of $3.77.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.34). On average, sell-side analysts predict that Adicet Bio will post -1.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ACET. Vanguard Group Inc. raised its position in shares of Adicet Bio by 85.5% in the 1st 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 last quarter. Acadian Asset Management LLC raised its holdings in Adicet Bio by 205.4% in the second quarter. Acadian Asset Management LLC now owns 1,085,093 shares of the company’s stock worth $1,312,000 after buying an additional 729,750 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Adicet Bio in the first quarter worth about $37,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Adicet Bio in the first quarter worth approximately $28,000. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Adicet Bio by 790.1% during the second quarter. Cubist Systematic Strategies LLC now owns 409,049 shares of the company’s stock valued at $495,000 after buying an additional 363,095 shares during the last quarter. 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.