Adicet Bio’s (ACET) Buy Rating Reiterated at Guggenheim

Adicet Bio (NASDAQ:ACET)‘s stock had its “buy” rating restated by analysts at Guggenheim in a report issued on Friday,Benzinga reports. They presently have a $7.00 target price on the stock.

A number of other equities analysts have also weighed in on ACET. JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a research note on Thursday, February 6th. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.50.

Adicet Bio Trading Up 0.2 %

Shares of NASDAQ ACET opened at $0.77 on Friday. The firm has a market cap of $63.35 million, a P/E ratio of -0.45 and a beta of 1.97. Adicet Bio has a 1-year low of $0.74 and a 1-year high of $2.43. The business’s 50 day moving average is $0.89 and its 200-day moving average is $1.10.

Adicet Bio (NASDAQ:ACET) last announced its earnings results on Thursday, March 6th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05. Analysts forecast that Adicet Bio will post -1.39 EPS for the current year.

Institutional Investors Weigh In On Adicet Bio

A number of large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP grew its position in Adicet Bio by 161.3% during the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after buying an additional 24,203 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Adicet Bio by 25.1% in the 4th quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock valued at $135,000 after purchasing an additional 28,153 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Adicet Bio in the 4th quarter valued at $29,000. XTX Topco Ltd boosted its holdings in shares of Adicet Bio by 12.5% in the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock valued at $421,000 after purchasing an additional 32,392 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Adicet Bio by 31.3% in the 3rd quarter. FMR LLC now owns 276,169 shares of the company’s stock valued at $398,000 after purchasing an additional 65,903 shares in the last quarter. Institutional investors and hedge funds 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.