Adicet Bio’s (ACET) Neutral Rating Reiterated at HC Wainwright

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

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

Adicet Bio Stock Up 2.2 %

ACET opened at $0.97 on Monday. The business has a 50 day moving average price of $1.38 and a two-hundred day moving average price of $1.40. Adicet Bio has a 52 week low of $0.93 and a 52 week high of $3.77.

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

Hedge Funds Weigh In On Adicet Bio

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Adicet Bio in the 1st quarter worth approximately $28,000. Vanguard Group Inc. increased its holdings 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 valued at $7,347,000 after buying an additional 1,441,503 shares in the last quarter. American International Group Inc. increased its holdings in shares of Adicet Bio by 74.2% in the first quarter. American International Group Inc. now owns 26,319 shares of the company’s stock valued at $62,000 after buying an additional 11,214 shares in the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Adicet Bio during the 1st quarter valued at $37,000. Finally, Blackstone Inc. bought a new stake in shares of Adicet Bio during the 1st quarter worth $2,906,000. 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.