Adicet Bio (NASDAQ:ACET) Earns Market Perform Rating from JMP Securities

Adicet Bio (NASDAQ:ACET - Get Free Report)'s stock had its "market perform" rating reissued by analysts at JMP Securities in a report released on Thursday,Benzinga reports.

A number of other equities research analysts also recently issued reports on ACET. 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. StockNews.com lowered Adicet Bio from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. Finally, HC Wainwright reaffirmed a "neutral" rating on shares of Adicet Bio in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Adicet Bio presently has an average rating of "Hold" and an average target price of $7.50.

Adicet Bio Stock Performance

Shares of NASDAQ:ACET traded down $0.07 on Thursday, reaching $0.90. The company's stock had a trading volume of 898,243 shares, compared to its average volume of 1,300,229. The company has a 50-day simple moving average of $0.95 and a 200 day simple moving average of $1.22. Adicet Bio has a 52-week low of $0.81 and a 52-week high of $3.47. The company has a market cap of $74.16 million, a P/E ratio of -0.53 and a beta of 1.86.

Hedge Funds Weigh In On Adicet Bio

Several hedge funds have recently bought and sold shares of the business. Marshall Wace LLP purchased a new stake in shares of Adicet Bio during the second quarter valued at $43,000. GSA Capital Partners LLP lifted its holdings in Adicet Bio by 161.3% during the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company's stock valued at $56,000 after buying an additional 24,203 shares in the last quarter. Castleview Partners LLC purchased a new stake in Adicet Bio in the 3rd quarter valued at about $75,000. JPMorgan Chase & Co. grew its stake in Adicet Bio by 10,321.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company's stock worth $116,000 after acquiring an additional 79,582 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Adicet Bio by 478.3% during the second quarter. AQR Capital Management LLC now owns 136,765 shares of the company's stock worth $165,000 after acquiring an additional 113,115 shares during the period. Institutional investors own 83.89% of the company's stock.

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.