Adicet Bio's (ACET) Buy Rating Reaffirmed at Guggenheim

Adicet Bio (NASDAQ:ACET - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Guggenheim in a report released on Friday,Benzinga reports. They currently have a $7.00 target price on the stock.

ACET has been the topic of a number of other reports. JMP Securities reaffirmed a "market perform" rating on shares of Adicet Bio in a research note on Thursday, February 6th. HC Wainwright restated a "neutral" rating on shares of Adicet Bio in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $7.50.

Adicet Bio Stock Down 3.2 %

Shares of ACET stock traded down $0.03 during trading hours on Friday, hitting $0.89. 354,525 shares of the company's stock were exchanged, compared to its average volume of 806,472. Adicet Bio has a fifty-two week low of $0.74 and a fifty-two week high of $2.43. The firm has a market cap of $73.18 million, a P/E ratio of -0.52 and a beta of 1.97. The firm has a 50 day moving average of $0.89 and a two-hundred day moving average of $1.09.

Adicet Bio (NASDAQ:ACET - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.05. On average, equities analysts forecast that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Regeneron Pharmaceuticals Inc. purchased a new position in Adicet Bio during the fourth quarter worth approximately $931,000. Norges Bank acquired a new stake in shares of Adicet Bio in the 4th quarter worth $413,000. RBF Capital LLC raised its holdings in shares of Adicet Bio by 62.5% during the 3rd quarter. RBF Capital LLC now owns 601,135 shares of the company's stock worth $866,000 after acquiring an additional 231,135 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Adicet Bio during the 4th quarter worth $177,000. Finally, Bridgeway Capital Management LLC boosted its position in shares of Adicet Bio by 20.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company's stock valued at $988,000 after acquiring an additional 175,000 shares during the last quarter. 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.