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

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

A number of other analysts have also recently weighed in on the stock. StockNews.com cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research note on Thursday, November 7th. Guggenheim started coverage on Adicet Bio in a research note on Monday, September 30th. They issued a “buy” rating and a $7.00 target price for the company. Finally, Canaccord Genuity Group lowered their target price on Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Stock Down 4.0 %

Shares of Adicet Bio stock opened at $0.86 on Thursday. The business has a 50-day moving average price of $1.17 and a 200 day moving average price of $1.32. Adicet Bio has a fifty-two week low of $0.81 and a fifty-two week high of $3.77. The firm has a market cap of $70.86 million, a P/E ratio of -0.50 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 for the quarter, meeting analysts’ consensus estimates of ($0.34). As a group, equities research analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current year.

Institutional Trading of Adicet Bio

Several large investors have recently added to or reduced their stakes in ACET. Renaissance Technologies LLC increased its holdings in shares of 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. Acadian Asset Management LLC grew its position 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 valued at $1,312,000 after buying an additional 729,750 shares in the last quarter. Geode Capital Management LLC increased its stake in Adicet Bio by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock valued at $1,107,000 after buying an additional 97,567 shares during the period. Stonepine Capital Management LLC raised its position in shares of Adicet Bio by 330.6% during the 2nd quarter. Stonepine Capital Management LLC now owns 609,446 shares of the company’s stock worth $737,000 after buying an additional 467,898 shares in the last quarter. Finally, RBF Capital LLC lifted its stake in shares of Adicet Bio by 62.5% in the 3rd quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock worth $866,000 after acquiring an additional 231,135 shares during the period. 83.89% of the stock is currently 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.