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

HC Wainwright reiterated their neutral rating on shares of Adicet Bio (NASDAQ:ACET) in a research report sent to investors on Wednesday morning, Benzinga reports.

Several other equities research analysts also recently commented on ACET. Guggenheim began coverage on shares of Adicet Bio in a research report on Monday, September 30th. They set a “buy” rating and a $7.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a report on Friday, September 20th. Canaccord Genuity Group reduced their price objective on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, StockNews.com raised Adicet Bio from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.50.

Adicet Bio Stock Performance

Shares of ACET opened at $1.45 on Wednesday. Adicet Bio has a 52 week low of $1.05 and a 52 week high of $3.77. The stock has a market capitalization of $119.48 million, a price-to-earnings ratio of -0.57 and a beta of 1.79. The stock has a fifty day moving average of $1.45 and a 200-day moving average of $1.51.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Tuesday, August 13th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.03. As a group, equities analysts forecast that Adicet Bio will post -1.41 EPS for the current year.

Institutional Investors Weigh In On Adicet Bio

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Adicet Bio during the first quarter valued at $28,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Adicet Bio during the 1st quarter valued at about $37,000. Point72 DIFC Ltd grew its stake 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 during the period. Marshall Wace LLP bought a new stake in Adicet Bio in the second quarter worth approximately $43,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Adicet Bio in the second quarter valued at approximately $62,000. 83.89% of the stock is currently 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.