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

by · The Cerbat Gem

Adicet Bio (NASDAQ:ACET – Get Free Report)‘s stock had its “neutral” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports.

Other equities research analysts also recently issued reports about the stock. 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. Canaccord Genuity Group dropped their target price on Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. StockNews.com cut Adicet Bio from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Finally, Guggenheim started coverage on Adicet Bio in a research note on Monday, September 30th. They set a “buy” rating and a $7.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Adicet Bio presently has an average rating of “Hold” and a consensus target price of $7.50.

Check Out Our Latest Research Report on Adicet Bio

Adicet Bio Price Performance

Shares of NASDAQ:ACET traded up $0.05 on Monday, hitting $0.99. 362,334 shares of the company’s stock were exchanged, compared to its average volume of 1,106,484. The stock has a market capitalization of $81.84 million, a price-to-earnings ratio of -0.58 and a beta of 1.81. The business’s 50 day simple moving average is $1.39 and its two-hundred day simple moving average is $1.40. Adicet Bio has a 12 month low of $0.93 and a 12 month high of $3.77.

Adicet Bio (NASDAQ:ACET – Get Free Report) last issued 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). Equities analysts forecast that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Trading of Adicet Bio

Several large investors have recently added to or reduced their stakes in ACET. Geode Capital Management LLC lifted its holdings in shares of Adicet Bio by 14.5% during the third quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock worth $1,107,000 after purchasing an additional 97,567 shares during the period. XTX Topco Ltd lifted its stake in Adicet Bio by 12.5% during the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock valued at $421,000 after acquiring an additional 32,392 shares during the period. RBF Capital LLC boosted its holdings in shares of Adicet Bio by 62.5% in the 3rd quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock valued at $866,000 after acquiring an additional 231,135 shares during the last quarter. FMR LLC increased its stake in shares of Adicet Bio by 31.3% in the third quarter. FMR LLC now owns 276,169 shares of the company’s stock worth $398,000 after acquiring an additional 65,903 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in shares of Adicet Bio by 161.3% during the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after purchasing an additional 24,203 shares during the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

About Adicet Bio

(Get Free Report)

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.

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