Adicet Bio (NASDAQ:ACET) Research Coverage Started at Guggenheim

Guggenheim initiated coverage on shares of Adicet Bio (NASDAQ:ACET) in a research note published on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $7.00 target price on the stock.

Other equities research analysts also recently issued reports about the company. Wedbush restated an outperform rating and set a $5.00 price target on shares of Adicet Bio in a research note on Friday, September 20th. StockNews.com lowered shares of Adicet Bio from a hold rating to a sell rating in a research report on Tuesday, September 10th. Canaccord Genuity Group reduced their target price on shares of Adicet Bio from $19.00 to $8.00 and set a buy rating for the company in a report on Wednesday, September 11th. Finally, HC Wainwright reiterated a neutral rating on shares of Adicet Bio in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $7.50.

Adicet Bio Trading Up 4.9 %

Shares of ACET stock opened at $1.49 on Monday. Adicet Bio has a 12-month low of $1.05 and a 12-month high of $3.77. The stock has a market capitalization of $122.78 million, a P/E ratio of -0.51 and a beta of 1.79. The firm’s 50 day moving average is $1.46 and its 200 day moving average is $1.57.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.03. As a group, equities analysts predict that Adicet Bio will post -1.35 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. American International Group Inc. raised its stake in Adicet Bio by 74.2% during the 1st quarter. American International Group Inc. now owns 26,319 shares of the company’s stock worth $62,000 after acquiring an additional 11,214 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Adicet Bio in the first quarter worth $28,000. American Century Companies Inc. raised its position in shares of Adicet Bio by 22.9% during the 2nd quarter. American Century Companies Inc. now owns 76,087 shares of the company’s stock valued at $92,000 after purchasing an additional 14,196 shares during the period. Point72 DIFC Ltd lifted its stake in shares of Adicet Bio by 77.5% during the 2nd quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after buying an additional 14,596 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in Adicet Bio in the 1st quarter worth $37,000. 83.89% of the stock is currently owned by 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.