HC Wainwright Reaffirms Neutral Rating for Adicet Bio (NASDAQ:ACET)

HC Wainwright reissued their neutral rating on shares of Adicet Bio (NASDAQ:ACET - Free Report) in a research note issued to investors on Wednesday,Benzinga reports.

Several other brokerages have also weighed in on ACET. StockNews.com lowered shares of Adicet Bio from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. Wedbush reissued an "outperform" rating and issued a $5.00 price target on shares of Adicet Bio in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $7.50.

Adicet Bio Stock Performance

ACET traded down $0.06 during trading on Wednesday, reaching $0.97. 1,312,693 shares of the stock were exchanged, compared to its average volume of 1,405,365. The stock's 50 day moving average price is $0.95 and its two-hundred day moving average price is $1.23. Adicet Bio has a twelve month low of $0.81 and a twelve month high of $3.50. The stock has a market cap of $79.93 million, a P/E ratio of -0.57 and a beta of 1.86.

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, meeting analysts' consensus estimates of ($0.34). Equities research analysts predict that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Several institutional investors have recently made changes to their positions in the stock. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Adicet Bio during the 4th quarter worth $931,000. Cubist Systematic Strategies LLC grew its stake in Adicet Bio by 790.1% during the second quarter. Cubist Systematic Strategies LLC now owns 409,049 shares of the company's stock worth $495,000 after buying an additional 363,095 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Adicet Bio by 2,728.8% in the 2nd quarter. Squarepoint Ops LLC now owns 362,230 shares of the company's stock valued at $438,000 after buying an additional 349,425 shares during the period. RBF Capital LLC raised its position 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 buying an additional 231,135 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Adicet Bio by 478.3% during the 2nd 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. 83.89% of the stock is currently owned by institutional investors.

Adicet Bio Company Profile

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.