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 report released on Thursday morning,Benzinga reports.

A number of other brokerages have also issued reports on ACET. Guggenheim initiated coverage on shares of Adicet Bio in a report on Monday, September 30th. They set a “buy” rating and a $7.00 price objective for the company. Canaccord Genuity Group cut their target price on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. StockNews.com cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, Wedbush restated an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Adicet Bio currently has a consensus rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Stock Performance

Shares of ACET stock opened at $0.91 on Thursday. The stock has a fifty day simple moving average of $1.16 and a two-hundred day simple moving average of $1.31. The firm has a market capitalization of $74.98 million, a PE ratio of -0.53 and a beta of 1.88. Adicet Bio has a 52-week low of $0.81 and a 52-week high of $3.77.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.34). On average, sell-side 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 bought and sold shares of the business. Point72 DIFC Ltd raised its position in shares of Adicet Bio by 77.5% during the 2nd quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after buying an additional 14,596 shares in the last quarter. Marshall Wace LLP purchased a new stake in Adicet Bio during the second quarter valued at approximately $43,000. GSA Capital Partners LLP lifted its stake in shares of Adicet Bio by 161.3% in the 3rd 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 last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Adicet Bio in the 2nd quarter valued at approximately $62,000. Finally, Castleview Partners LLC purchased a new position in shares of Adicet Bio in the 3rd quarter worth approximately $75,000. Institutional investors 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.