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

Adicet Bio (NASDAQ:ACET)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They currently have a $10.00 price objective on the stock.

Other analysts also recently issued research reports about the company. StockNews.com upgraded Adicet Bio to a “sell” rating in a research note on Monday, May 20th. Canaccord Genuity Group reiterated a “buy” rating and issued a $19.00 price objective on shares of Adicet Bio in a research report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a research report on Tuesday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Adicet Bio Stock Performance

Shares of NASDAQ ACET traded up $0.12 during mid-day trading on Wednesday, reaching $1.42. 376,265 shares of the company traded hands, compared to its average volume of 1,383,432. The stock has a market cap of $116.68 million, a PE ratio of -0.47 and a beta of 1.80. The company’s fifty day moving average is $1.33 and its two-hundred day moving average is $1.88. Adicet Bio has a fifty-two week low of $1.05 and a fifty-two week high of $3.77.

Adicet Bio (NASDAQ:ACET) last announced its earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.03. Research analysts forecast that Adicet Bio will post -1.37 earnings per share for the current year.

Institutional Investors Weigh In On Adicet Bio

A number of hedge funds and other institutional investors have recently bought and sold shares of ACET. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Adicet Bio during the 1st quarter valued at $28,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Adicet Bio in the first quarter valued at about $37,000. American International Group Inc. increased its position 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 acquiring an additional 11,214 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Adicet Bio in the first quarter valued at about $90,000. Finally, American Century Companies Inc. grew its position in shares of Adicet Bio by 22.9% in the second quarter. American Century Companies Inc. now owns 76,087 shares of the company’s stock valued at $92,000 after purchasing an additional 14,196 shares during the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

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.