Adicet Bio’s (ACET) “Neutral” Rating Reaffirmed at HC Wainwright

Adicet Bio (NASDAQ:ACET)‘s stock had its “neutral” rating restated by investment analysts at HC Wainwright in a research note issued on Thursday,Benzinga reports.

A number of other research firms have also commented on ACET. JMP Securities reaffirmed a “market perform” rating on shares of Adicet Bio in a research note on Thursday, February 6th. StockNews.com lowered Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Adicet Bio has an average rating of “Hold” and an average price target of $7.50.

Adicet Bio Price Performance

ACET opened at $0.93 on Thursday. The stock’s 50 day simple moving average is $0.94 and its 200 day simple moving average is $1.18. Adicet Bio has a 1 year low of $0.81 and a 1 year high of $2.54. The firm has a market cap of $76.88 million, a price-to-earnings ratio of -0.55 and a beta of 1.86.

Hedge Funds Weigh In On Adicet Bio

Institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new stake in shares of Adicet Bio during the fourth quarter valued at approximately $177,000. Two Sigma Advisers LP increased its holdings in shares of Adicet Bio by 12.4% during the fourth quarter. Two Sigma Advisers LP now owns 794,039 shares of the company’s stock valued at $764,000 after acquiring an additional 87,400 shares in the last quarter. Stonepine Capital Management LLC increased its holdings in shares of Adicet Bio by 14.9% during the fourth quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock valued at $673,000 after acquiring an additional 90,554 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in shares of Adicet Bio by 20.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock valued at $988,000 after acquiring an additional 175,000 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Adicet Bio by 25.1% during the fourth quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock valued at $135,000 after acquiring an additional 28,153 shares in the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

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.