Adicet Bio (NASDAQ:ACET) Receives “Buy” Rating from Guggenheim

Adicet Bio (NASDAQ:ACET)‘s stock had its “buy” rating reissued by research analysts at Guggenheim in a research note issued to investors on Friday,Benzinga reports. They currently have a $7.00 price objective on the stock.

A number of other analysts have also recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a research note on Thursday, February 6th. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Price Performance

Shares of NASDAQ ACET traded up $0.00 during midday trading on Friday, reaching $0.77. 4,791 shares of the stock were exchanged, compared to its average volume of 806,173. Adicet Bio has a 12 month low of $0.74 and a 12 month high of $2.43. The company has a market capitalization of $63.25 million, a price-to-earnings ratio of -0.45 and a beta of 1.97. The business has a 50-day simple moving average of $0.89 and a two-hundred day simple moving average of $1.11.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Thursday, March 6th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.05. Equities research analysts expect that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of Adicet Bio

A number of institutional investors have recently made changes to their positions in ACET. GSA Capital Partners LLP lifted its position in Adicet Bio by 161.3% during the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after buying an additional 24,203 shares in the last quarter. FMR LLC grew its stake in Adicet Bio by 31.3% in the 3rd quarter. FMR LLC now owns 276,169 shares of the company’s stock valued at $398,000 after buying an additional 65,903 shares during the last quarter. RBF Capital LLC grew its stake in Adicet Bio by 62.5% in the 3rd quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock valued at $866,000 after buying an additional 231,135 shares during the last quarter. XTX Topco Ltd raised its holdings in Adicet Bio by 12.5% in the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock valued at $421,000 after acquiring an additional 32,392 shares during the period. Finally, Geode Capital Management LLC lifted its position in Adicet Bio by 14.5% during the third quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock worth $1,107,000 after acquiring an additional 97,567 shares during the last quarter. 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.