Adicet Bio (NASDAQ:ACET) Receives Neutral Rating from HC Wainwright

Adicet Bio (NASDAQ:ACET)‘s stock had its “neutral” rating reissued by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports.

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

Adicet Bio Stock Down 5.9 %

Shares of ACET traded down $0.05 on Thursday, hitting $0.84. The company’s stock had a trading volume of 633,490 shares, compared to its average volume of 1,078,118. The firm has a market capitalization of $69.40 million, a price-to-earnings ratio of -0.49 and a beta of 1.88. The firm’s fifty day moving average price is $1.19 and its 200-day moving average price is $1.32. Adicet Bio has a fifty-two week low of $0.81 and a fifty-two week high of $3.77.

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

Institutional Investors Weigh In On Adicet Bio

Large investors have recently made changes to their positions in the stock. Point72 DIFC Ltd increased its holdings 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 buying an additional 14,596 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Adicet Bio in the 2nd quarter valued at about $43,000. GSA Capital Partners LLP increased its stake in shares of Adicet Bio by 161.3% during the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after purchasing an additional 24,203 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Adicet Bio in the 2nd quarter valued at about $62,000. Finally, Castleview Partners LLC acquired a new stake in Adicet Bio in the 3rd quarter valued at about $75,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

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.