Adicet Bio (NASDAQ:ACET) Receives Neutral Rating from HC Wainwright

Adicet Bio (NASDAQ:ACET - Get Free Report)'s stock had its "neutral" rating reiterated by HC Wainwright in a research report issued to clients and investors on Wednesday, Benzinga reports.

Several other research analysts have also weighed in on ACET. Guggenheim started coverage on shares of Adicet Bio in a research note on Monday, September 30th. They set a "buy" rating and a $7.00 price objective on the stock. Wedbush reissued an "outperform" rating and set a $5.00 price target on shares of Adicet Bio in a research report on Friday, September 20th. StockNews.com raised Adicet Bio from a "sell" rating to a "hold" rating in a research report on Tuesday, October 8th. Finally, Canaccord Genuity Group decreased their target price on Adicet Bio from $19.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $7.50.

Adicet Bio Stock Performance

NASDAQ ACET traded up $0.09 during trading hours on Wednesday, hitting $1.49. 554,911 shares of the company traded hands, compared to its average volume of 1,183,389. The business's 50-day moving average is $1.45 and its 200-day moving average is $1.52. The stock has a market capitalization of $122.44 million, a price-to-earnings ratio of -0.51 and a beta of 1.79. Adicet Bio has a twelve month low of $1.05 and a twelve month high of $3.77.

Adicet Bio (NASDAQ:ACET - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.03. Analysts predict that Adicet Bio will post -1.41 EPS for the current year.

Hedge Funds Weigh In On Adicet Bio

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Adicet Bio by 85.5% in 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 in the last quarter. Acadian Asset Management LLC raised 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 buying an additional 729,750 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Adicet Bio in the first quarter valued at approximately $37,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Adicet Bio during the first quarter worth approximately $28,000. Finally, Cubist Systematic Strategies LLC increased its stake in Adicet Bio by 790.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 409,049 shares of the company's stock worth $495,000 after acquiring an additional 363,095 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.