Adicet Bio (NASDAQ:ACET) Receives Neutral Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Adicet Bio (NASDAQ:ACET) in a research report released on Monday,Benzinga reports.

A number of other research firms also recently commented on ACET. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research note on Thursday, November 7th. StockNews.com cut 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 target on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Guggenheim began coverage on shares of Adicet Bio in a research note on Monday, September 30th. They issued 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 issued a buy rating to the stock. According to MarketBeat.com, Adicet Bio has an average rating of “Hold” and an average price target of $7.50.

Adicet Bio Stock Down 4.8 %

Shares of Adicet Bio stock opened at $0.92 on Monday. Adicet Bio has a 52-week low of $0.91 and a 52-week high of $3.77. The company has a 50 day moving average of $1.35 and a 200 day moving average of $1.39. The company has a market capitalization of $75.84 million, a P/E ratio of -0.54 and a beta of 1.81.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.34). As a group, research analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. RA Capital Management L.P. purchased a new position in Adicet Bio during the 1st quarter worth $17,721,000. Vanguard Group Inc. increased its position in shares of Adicet Bio by 85.5% in 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. Blackstone Inc. purchased a new stake in shares of Adicet Bio during the first quarter valued at approximately $2,906,000. Acadian Asset Management LLC lifted its stake 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 acquiring an additional 729,750 shares during the period. Finally, Stonepine Capital Management LLC lifted its position in Adicet Bio by 330.6% during the second quarter. Stonepine Capital Management LLC now owns 609,446 shares of the company’s stock valued at $737,000 after buying an additional 467,898 shares during the period. 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.