Adicet Bio’s (ACET) Buy Rating Reiterated at Guggenheim

Guggenheim reiterated their buy rating on shares of Adicet Bio (NASDAQ:ACET) in a research note published on Friday,Benzinga reports. The brokerage currently has a $7.00 target price on the stock.

Several other analysts also recently issued reports on the company. HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research report on Friday, March 7th. JMP Securities restated a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Trading Up 0.2 %

Shares of ACET opened at $0.77 on Friday. Adicet Bio has a 12-month low of $0.74 and a 12-month high of $2.43. The stock has a market cap of $63.35 million, a P/E ratio of -0.45 and a beta of 1.97. The company has a 50-day moving average of $0.89 and a two-hundred day moving average of $1.10.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.05. As a group, analysts forecast that Adicet Bio will post -1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Adicet Bio

Several institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in Adicet Bio in the 4th quarter valued at about $29,000. GSA Capital Partners LLP grew its holdings in 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. Wealthedge Investment Advisors LLC purchased a new stake in Adicet Bio in the fourth quarter valued at approximately $71,000. JPMorgan Chase & Co. increased its position in Adicet Bio by 10,321.9% during the third quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after purchasing an additional 79,582 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Adicet Bio by 25.1% during the fourth quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock worth $135,000 after purchasing an additional 28,153 shares during the period. 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.