HC Wainwright Reaffirms Neutral Rating for Adicet Bio (NASDAQ:ACET)

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

A number of other research analysts have also issued reports on the stock. StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Wedbush restated an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.50.

Adicet Bio Stock Performance

Shares of ACET opened at $1.03 on Wednesday. Adicet Bio has a 52-week low of $0.81 and a 52-week high of $3.50. The firm has a market cap of $84.87 million, a price-to-earnings ratio of -0.60 and a beta of 1.86. The business’s fifty day moving average is $0.96 and its 200-day moving average is $1.23.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings data 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, research analysts forecast that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Marshall Wace LLP bought a new position in shares of Adicet Bio during the 2nd quarter worth $43,000. GSA Capital Partners LLP raised its stake in Adicet Bio by 161.3% in the 3rd 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 period. Castleview Partners LLC purchased a new stake in Adicet Bio during the third quarter valued at about $75,000. JPMorgan Chase & Co. boosted its position in Adicet Bio by 10,321.9% during the third quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after purchasing an additional 79,582 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Adicet Bio by 478.3% in the second 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 in the last quarter. 83.89% of the stock is owned by institutional investors.

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.