Adicet Bio's (ACET) Neutral Rating Reiterated at HC Wainwright

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

Other equities analysts have also recently issued reports about the stock. Guggenheim assumed coverage on shares of Adicet Bio in a research note on Monday, September 30th. They issued a "buy" rating and a $7.00 target price for the company. Wedbush restated an "outperform" rating and set a $5.00 price objective on shares of Adicet Bio in a research note on Thursday, November 7th. 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. Finally, StockNews.com downgraded Adicet Bio from a "hold" rating to a "sell" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.50.

Adicet Bio Stock Performance

Adicet Bio stock traded up $0.02 during mid-day trading on Monday, reaching $0.97. The company's stock had a trading volume of 688,704 shares, compared to its average volume of 1,107,948. Adicet Bio has a 12 month low of $0.93 and a 12 month high of $3.77. The business's 50 day simple moving average is $1.38 and its 200 day simple moving average is $1.40. The company has a market capitalization of $79.76 million, a price-to-earnings ratio of -0.57 and a beta of 1.81.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, meeting the consensus estimate of ($0.34). As a group, sell-side analysts expect that Adicet Bio will post -1.39 EPS for the current year.

Institutional Investors Weigh In On Adicet Bio

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Adicet Bio by 85.5% during the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company's stock worth $7,347,000 after purchasing an additional 1,441,503 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of 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 acquiring an additional 729,750 shares during the period. Price T Rowe Associates Inc. MD bought a new position in Adicet Bio during the first quarter worth about $37,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Adicet Bio during the first quarter worth about $28,000. Finally, Cubist Systematic Strategies LLC raised its stake in Adicet Bio by 790.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 409,049 shares of the company's stock worth $495,000 after purchasing an additional 363,095 shares in 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.