Adicet Bio’s (ACET) “Neutral” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Adicet Bio (NASDAQ:ACET) in a research report released on Wednesday morning, Benzinga reports.

Several other equities analysts have also recently weighed in on ACET. Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research report on Friday, September 20th. StockNews.com upgraded Adicet Bio from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Canaccord Genuity Group reduced their price objective on 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, Guggenheim started coverage on Adicet Bio in a research report on Monday, September 30th. They set a “buy” rating and a $7.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Adicet Bio currently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Adicet Bio Stock Up 6.4 %

Shares of NASDAQ ACET opened at $1.49 on Wednesday. Adicet Bio has a 12 month low of $1.05 and a 12 month high of $3.77. The business has a fifty day simple moving average of $1.45 and a 200-day simple moving average of $1.52.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.03. Equities research analysts forecast that Adicet Bio will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ACET. Vanguard Group Inc. grew its stake in shares of Adicet Bio by 85.5% in the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock valued at $7,347,000 after buying an additional 1,441,503 shares in the last quarter. Acadian Asset Management LLC grew its position in Adicet Bio by 205.4% in the second quarter. Acadian Asset Management LLC now owns 1,085,093 shares of the company’s stock worth $1,312,000 after acquiring an additional 729,750 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Adicet Bio during the 1st quarter valued at $37,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Adicet Bio during the 1st quarter valued at $28,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Adicet Bio by 790.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 409,049 shares of the company’s stock valued at $495,000 after purchasing an additional 363,095 shares during the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

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.