Adicet Bio (NASDAQ:ACET) Given “Neutral” Rating at HC Wainwright

HC Wainwright reissued their neutral rating on shares of Adicet Bio (NASDAQ:ACET) in a report issued on Thursday,Benzinga reports.

Other analysts also recently issued reports about the company. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a report on Thursday, November 7th. StockNews.com cut Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Canaccord Genuity Group dropped their price target 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. Finally, Guggenheim initiated coverage on shares of Adicet Bio in a research report on Monday, September 30th. They issued a “buy” rating and a $7.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued 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 target price of $7.50.

Adicet Bio Price Performance

Shares of NASDAQ ACET opened at $0.91 on Thursday. Adicet Bio has a 1 year low of $0.81 and a 1 year high of $3.77. The firm has a 50-day simple moving average of $1.16 and a two-hundred day simple moving average of $1.31. The company has a market cap of $74.98 million, a P/E ratio of -0.53 and a beta of 1.88.

Adicet Bio (NASDAQ:ACET) last issued 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). As a group, equities research analysts expect that Adicet Bio will post -1.39 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Acadian Asset Management LLC increased its holdings 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. Stonepine Capital Management LLC raised its holdings in shares of Adicet Bio by 330.6% during the second quarter. Stonepine Capital Management LLC now owns 609,446 shares of the company’s stock worth $737,000 after purchasing an additional 467,898 shares during the last quarter. Renaissance Technologies LLC lifted its position in 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. Cubist Systematic Strategies LLC boosted its holdings in Adicet Bio by 790.1% in the second quarter. Cubist Systematic Strategies LLC now owns 409,049 shares of the company’s stock valued at $495,000 after purchasing an additional 363,095 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in Adicet Bio by 2,728.8% during the 2nd quarter. Squarepoint Ops LLC now owns 362,230 shares of the company’s stock worth $438,000 after purchasing an additional 349,425 shares during the period. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

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.