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

HC Wainwright reaffirmed their buy rating on shares of Adicet Bio (NASDAQ:ACET) in a research note published on Monday, Benzinga reports. They currently have a $10.00 target price on the stock.

A number of other research analysts have also issued reports on ACET. StockNews.com upgraded shares of Adicet Bio to a sell rating in a research note on Monday, May 20th. Canaccord Genuity Group restated a buy rating and set a $19.00 price target on shares of Adicet Bio in a research note on Wednesday, March 20th. Finally, Wedbush restated an outperform rating and set a $5.00 price target on shares of Adicet Bio in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $14.20.

Adicet Bio Price Performance

NASDAQ ACET opened at $1.34 on Monday. The firm has a market cap of $110.11 million, a PE ratio of -0.45 and a beta of 1.94. The company has a 50 day moving average price of $1.52 and a 200 day moving average price of $2.08. Adicet Bio has a 52 week low of $1.10 and a 52 week high of $3.77.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.35) EPS for the quarter, hitting the consensus estimate of ($0.35). On average, equities research analysts anticipate that Adicet Bio will post -1.37 earnings per share for the current fiscal year.

Institutional Trading of Adicet Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Adicet Bio in the first quarter worth $28,000. Price T Rowe Associates Inc. MD purchased a new stake in Adicet Bio during the first quarter worth $37,000. American International Group Inc. boosted its holdings in Adicet Bio by 74.2% during the first quarter. American International Group Inc. now owns 26,319 shares of the company’s stock worth $62,000 after buying an additional 11,214 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Adicet Bio during the first quarter worth $90,000. Finally, Panagora Asset Management Inc. purchased a new stake in Adicet Bio during the fourth quarter worth $98,000. 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.