Adicet Bio (NASDAQ:ACET) Stock Rating Reaffirmed by HC Wainwright

Adicet Bio (NASDAQ:ACET)‘s stock had its “neutral” rating restated by HC Wainwright in a report released on Monday, Benzinga reports.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group cut their price target 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. StockNews.com lowered Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Guggenheim started coverage on Adicet Bio in a report on Monday. They issued a “buy” rating and a $7.00 target price on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Adicet Bio has an average rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Stock Down 1.4 %

ACET opened at $1.42 on Monday. The firm has a market cap of $117.01 million, a price-to-earnings ratio of -0.48 and a beta of 1.79. Adicet Bio has a 52 week low of $1.05 and a 52 week high of $3.77. The business’s 50 day moving average is $1.46 and its two-hundred day moving average is $1.58.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.03. Equities analysts expect that Adicet Bio will post -1.35 EPS for the current fiscal year.

Institutional Trading of Adicet Bio

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Adicet Bio in the first quarter valued at approximately $28,000. Price T Rowe Associates Inc. MD purchased a new stake in Adicet Bio during the first quarter worth $37,000. Point72 DIFC Ltd boosted its position in Adicet Bio by 77.5% during the second quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock worth $40,000 after purchasing an additional 14,596 shares in the last quarter. Marshall Wace LLP purchased a new stake in Adicet Bio during the second quarter worth $43,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Adicet Bio during the second quarter worth $62,000. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

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.