HC Wainwright reissued their neutral rating on shares of Adicet Bio (NASDAQ:ACET - Free Report) in a research report report published on Thursday,Benzinga reports.
A number of other brokerages also recently issued reports on ACET. Guggenheim started coverage on Adicet Bio in a report on Monday, September 30th. They issued a "buy" rating and a $7.00 price target for the company. Canaccord Genuity Group decreased their price objective 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. Wedbush restated an "outperform" rating and set a $5.00 price target on shares of Adicet Bio in a research note on Thursday, November 7th. Finally, StockNews.com cut shares of Adicet Bio from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned 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.
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Adicet Bio Price Performance
Shares of NASDAQ ACET traded down $0.04 during midday trading on Thursday, hitting $0.86. The company's stock had a trading volume of 947,003 shares, compared to its average volume of 1,079,536. Adicet Bio has a 1 year low of $0.81 and a 1 year high of $3.77. The firm has a market capitalization of $70.86 million, a price-to-earnings ratio of -0.50 and a beta of 1.88. The business's fifty day simple moving average is $1.19 and its two-hundred day simple moving average is $1.32.
Adicet Bio (NASDAQ:ACET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.34). Analysts anticipate that Adicet Bio will post -1.39 EPS for the current fiscal year.
Hedge Funds Weigh In On Adicet Bio
Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its position in shares of Adicet Bio by 44.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,512,600 shares of the company's stock valued at $1,830,000 after acquiring an additional 463,600 shares during the period. Acadian Asset Management LLC grew 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 purchasing an additional 729,750 shares during the last quarter. Geode Capital Management LLC lifted its stake in Adicet Bio by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 768,566 shares of the company's stock valued at $1,107,000 after buying an additional 97,567 shares in the last quarter. Stonepine Capital Management LLC grew its holdings in Adicet Bio by 330.6% during the 2nd quarter. Stonepine Capital Management LLC now owns 609,446 shares of the company's stock valued at $737,000 after buying an additional 467,898 shares during the last quarter. Finally, RBF Capital LLC increased its position in Adicet Bio by 62.5% during the third quarter. RBF Capital LLC now owns 601,135 shares of the company's stock worth $866,000 after buying an additional 231,135 shares in the last quarter. 83.89% of the stock is currently owned by hedge funds and other institutional investors.
About Adicet Bio
(
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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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