Adicet Bio (NASDAQ:ACET) Given Buy Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Adicet Bio (NASDAQ:ACET) in a research report sent to investors on Monday morning, Benzinga reports. The firm currently has a $10.00 target price on the stock.

ACET has been the topic of several other research reports. StockNews.com upgraded Adicet Bio to a sell rating in a research note on Monday, May 20th. Wedbush restated an outperform rating and issued a $5.00 price target on shares of Adicet Bio in a research note on Wednesday, May 15th. Finally, Canaccord Genuity Group restated a buy rating and issued a $19.00 price target on shares of Adicet Bio in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $14.20.

Adicet Bio Stock Performance

ACET stock opened at $1.34 on Monday. Adicet Bio has a fifty-two week low of $1.10 and a fifty-two week high of $3.77. The business’s 50 day moving average price is $1.52 and its two-hundred day moving average price is $2.08. The company has a market capitalization of $110.11 million, a price-to-earnings ratio of -0.45 and a beta of 1.94.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Tuesday, May 14th. The company reported ($0.35) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.35). Sell-side analysts forecast that Adicet Bio will post -1.37 earnings per share for the current year.

Hedge Funds Weigh In On Adicet Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACET. RA Capital Management L.P. bought a new position in Adicet Bio in the 1st quarter valued at approximately $17,721,000. Vanguard Group Inc. lifted its holdings in shares of Adicet Bio by 85.5% during 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 during the period. Blackstone Inc. bought a new position in shares of Adicet Bio during the 1st quarter valued at $2,906,000. Carlyle Group Inc. lifted its holdings in shares of Adicet Bio by 39.4% during the 1st quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock valued at $6,900,000 after buying an additional 833,333 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Adicet Bio by 2,182.5% in the 3rd quarter. Acadian Asset Management LLC now owns 523,009 shares of the company’s stock worth $715,000 after purchasing an additional 500,095 shares during the period. 83.89% of the stock is owned by institutional investors.

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.