Adicet Bio (NASDAQ:ACET) Rating Reiterated by HC Wainwright

Adicet Bio (NASDAQ:ACET)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued on Monday, Benzinga reports. They currently have a $10.00 target price on the stock.

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

Adicet Bio Stock Performance

Adicet Bio stock opened at $1.21 on Monday. Adicet Bio has a fifty-two week low of $1.05 and a fifty-two week high of $3.77. The stock has a market cap of $99.43 million, a P/E ratio of -0.41 and a beta of 1.80. The firm’s fifty day moving average price is $1.41 and its 200-day moving average price is $2.06.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.35) EPS for the quarter, hitting the consensus estimate of ($0.35). Sell-side analysts predict that Adicet Bio will post -1.37 earnings per share for the current year.

Institutional Trading of Adicet Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC grew its stake in shares of Adicet Bio by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 81,986 shares of the company’s stock worth $155,000 after buying an additional 20,790 shares during the last quarter. Panagora Asset Management Inc. purchased a new position in Adicet Bio during the fourth quarter valued at $98,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Adicet Bio in the first quarter worth $28,000. Carlyle Group Inc. grew its stake in shares of Adicet Bio by 39.4% in the first quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock worth $6,900,000 after acquiring an additional 833,333 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Adicet Bio by 85.5% during the first quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock valued at $7,347,000 after acquiring an additional 1,441,503 shares in the last quarter. 83.89% of the stock is owned by hedge funds and other 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.