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

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

A number of other brokerages also recently commented on ACET. Guggenheim assumed coverage on Adicet Bio in a report on Monday, September 30th. They issued a “buy” rating and a $7.00 price target for the company. StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. 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, Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.50.

Adicet Bio Price Performance

Shares of ACET stock opened at $0.91 on Thursday. Adicet Bio has a 1-year low of $0.81 and a 1-year high of $3.77. The firm’s 50-day simple moving average is $1.16 and its 200-day simple moving average is $1.31. The firm has a market cap of $74.98 million, a P/E ratio of -0.53 and a beta of 1.88.

Adicet Bio (NASDAQ:ACET) last issued its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, hitting the consensus estimate of ($0.34). Analysts expect that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in shares of Adicet Bio by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 76,087 shares of the company’s stock worth $92,000 after acquiring an additional 14,196 shares during the period. Point72 DIFC Ltd grew its position in Adicet Bio by 77.5% in the 2nd 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 last quarter. GSA Capital Partners LLP increased its stake in shares of Adicet Bio by 161.3% in the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after purchasing an additional 24,203 shares during the period. XTX Topco Ltd raised its holdings in shares of Adicet Bio by 12.5% during the third quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock valued at $421,000 after buying an additional 32,392 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Adicet Bio during the second quarter worth approximately $43,000. 83.89% of the stock is currently owned by institutional investors.

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.