Adicet Bio (NASDAQ:ACET) Receives “Market Perform” Rating from JMP Securities

JMP Securities reissued their market perform rating on shares of Adicet Bio (NASDAQ:ACET) in a research note published on Thursday,Benzinga reports.

ACET has been the subject of a number of other reports. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a report on Thursday, November 7th. StockNews.com lowered Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Finally, HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Adicet Bio presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Price Performance

Shares of NASDAQ ACET opened at $1.03 on Thursday. Adicet Bio has a 1-year low of $0.81 and a 1-year high of $3.50. The stock has a fifty day simple moving average of $0.96 and a two-hundred day simple moving average of $1.23.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, hitting analysts’ consensus estimates of ($0.34). Equities research analysts expect that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

A number of large investors have recently added to or reduced their stakes in ACET. Marshall Wace LLP purchased a new stake in Adicet Bio during the second quarter valued at about $43,000. Squarepoint Ops LLC raised its position in Adicet Bio by 2,728.8% during the second quarter. Squarepoint Ops LLC now owns 362,230 shares of the company’s stock valued at $438,000 after purchasing an additional 349,425 shares in the last quarter. AQR Capital Management LLC raised its position in Adicet Bio by 478.3% during the second quarter. AQR Capital Management LLC now owns 136,765 shares of the company’s stock valued at $165,000 after purchasing an additional 113,115 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in Adicet Bio by 790.1% during the second 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 in the last quarter. Finally, Castleview Partners LLC purchased a new stake in Adicet Bio during the third quarter valued at about $75,000. 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.