HC Wainwright Reiterates “Neutral” Rating for Adicet Bio (NASDAQ:ACET)

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

A number of other analysts also recently weighed in on the stock. StockNews.com downgraded shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Thursday, November 7th. Canaccord Genuity Group reduced their price objective on Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a research note on Thursday, November 7th. Finally, Guggenheim assumed coverage on Adicet Bio in a research report on Monday, September 30th. They set a “buy” rating and a $7.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Adicet Bio has a consensus rating of “Hold” and an average target price of $7.50.

Adicet Bio Price Performance

NASDAQ:ACET opened at $1.03 on Monday. The company has a market cap of $84.87 million, a price-to-earnings ratio of -0.60 and a beta of 1.81. Adicet Bio has a 1 year low of $0.93 and a 1 year high of $3.77. The stock’s 50 day simple moving average is $1.37 and its two-hundred day simple moving average is $1.40.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, hitting the consensus estimate of ($0.34). As a group, analysts anticipate that Adicet Bio will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. RA Capital Management L.P. bought a new stake in shares of Adicet Bio during the 1st quarter worth approximately $17,721,000. Vanguard Group Inc. lifted its position in shares of Adicet Bio by 85.5% during 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 last quarter. Renaissance Technologies LLC boosted its stake in shares of Adicet Bio by 44.2% during the second quarter. Renaissance Technologies LLC now owns 1,512,600 shares of the company’s stock valued at $1,830,000 after purchasing an additional 463,600 shares during the period. Blackstone Inc. bought a new position in shares of Adicet Bio in the first quarter worth about $2,906,000. Finally, Acadian Asset Management LLC increased its stake in Adicet Bio by 205.4% in the 2nd 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 period. Hedge funds and other 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.