Adicet Bio (NASDAQ:ACET) Rating Reiterated by HC Wainwright

HC Wainwright reissued their neutral rating on shares of Adicet Bio (NASDAQ:ACET) in a research report released on Thursday, Benzinga reports.

Other equities research analysts have also issued research reports about the company. Wedbush restated an outperform rating and set a $5.00 price objective on shares of Adicet Bio in a research note on Tuesday, September 10th. Canaccord Genuity Group decreased their price objective on shares of Adicet Bio from $19.00 to $8.00 and set a buy rating for the company in a report on Wednesday, September 11th. Finally, StockNews.com downgraded shares of Adicet Bio from a hold rating to a sell rating in a research report on Tuesday, September 10th.

Adicet Bio Stock Performance

ACET stock opened at $1.53 on Thursday. The firm has a market cap of $125.73 million, a P/E ratio of -0.52 and a beta of 1.79. Adicet Bio has a 1 year low of $1.05 and a 1 year high of $3.77. The stock has a 50-day simple moving average of $1.44 and a 200-day simple moving average of $1.62.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.03. On average, equities research analysts predict that Adicet Bio will post -1.35 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. RA Capital Management L.P. bought a new position in shares of Adicet Bio during the first quarter valued at approximately $17,721,000. Vanguard Group Inc. boosted its position in Adicet Bio by 85.5% during the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock valued at $7,347,000 after purchasing an additional 1,441,503 shares during the period. Blackstone Inc. bought a new position in Adicet Bio during the 1st quarter worth $2,906,000. Carlyle Group Inc. increased its position in Adicet Bio by 39.4% in the first quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock worth $6,900,000 after buying an additional 833,333 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Adicet Bio by 205.4% in the second quarter. Acadian Asset Management LLC now owns 1,085,093 shares of the company’s stock valued at $1,312,000 after buying an additional 729,750 shares during the last quarter. 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.