Adicet Bio (NASDAQ:ACET) Receives Market Perform Rating from JMP Securities

Adicet Bio (NASDAQ:ACET)‘s stock had its “market perform” rating reissued by analysts at JMP Securities in a research note issued on Thursday,Benzinga reports.

A number of other equities research analysts have also issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Adicet Bio in a report on Thursday, November 7th. HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research report on Wednesday. Finally, StockNews.com downgraded shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Adicet Bio presently has a consensus rating of “Hold” and an average target price of $7.50.

Adicet Bio Price Performance

ACET stock traded up $0.02 during trading on Thursday, hitting $1.03. The stock had a trading volume of 912,256 shares, compared to its average volume of 1,222,186. Adicet Bio has a twelve month low of $0.81 and a twelve month high of $3.50. The company’s 50-day moving average price is $0.96 and its two-hundred day moving average price is $1.23. The stock has a market capitalization of $84.46 million, a P/E ratio of -0.60 and a beta of 1.86.

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

Institutional Trading of Adicet Bio

Several hedge funds have recently made changes to their positions in ACET. Marshall Wace LLP purchased a new stake in Adicet Bio in the 2nd quarter valued at about $43,000. GSA Capital Partners LLP increased its position in shares of Adicet Bio by 161.3% during the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after acquiring an additional 24,203 shares during the last quarter. Castleview Partners LLC purchased a new stake in shares of Adicet Bio in the 3rd quarter valued at approximately $75,000. JPMorgan Chase & Co. lifted its holdings in shares of Adicet Bio by 10,321.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after acquiring an additional 79,582 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Adicet Bio by 478.3% during the 2nd quarter. AQR Capital Management LLC now owns 136,765 shares of the company’s stock worth $165,000 after purchasing an additional 113,115 shares during the period. Hedge funds and other institutional investors own 83.89% of the company’s stock.

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.