Adicet Bio’s (ACET) “Neutral” Rating Reiterated at HC Wainwright

Adicet Bio (NASDAQ:ACET)‘s stock had its “neutral” rating reissued by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports.

ACET has been the topic of several other reports. StockNews.com downgraded Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Adicet Bio has an average rating of “Hold” and an average price target of $7.50.

Adicet Bio Stock Performance

Shares of NASDAQ ACET traded up $0.02 during mid-day trading on Wednesday, reaching $0.94. The company had a trading volume of 16,965,359 shares, compared to its average volume of 1,039,347. Adicet Bio has a twelve month low of $0.81 and a twelve month high of $3.62. The stock has a market capitalization of $77.37 million, a PE ratio of -0.55 and a beta of 1.86. The stock’s 50 day moving average is $0.96 and its 200-day moving average is $1.23.

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

Institutional Investors Weigh In On Adicet Bio

A number of hedge funds have recently modified their holdings of the business. Marshall Wace LLP acquired a new stake in Adicet Bio in the 2nd quarter valued at approximately $43,000. Squarepoint Ops LLC increased its holdings in Adicet Bio by 2,728.8% in the 2nd quarter. Squarepoint Ops LLC now owns 362,230 shares of the company’s stock valued at $438,000 after buying an additional 349,425 shares during the period. AQR Capital Management LLC boosted its stake in shares of Adicet Bio by 478.3% in the 2nd 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 boosted its position in Adicet Bio by 790.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 409,049 shares of the company’s stock worth $495,000 after buying an additional 363,095 shares during the period. Finally, Castleview Partners LLC acquired a new stake in Adicet Bio during the 3rd quarter worth approximately $75,000. Institutional investors and hedge funds 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.