Adicet Bio (NASDAQ:ACET) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Adicet Bio (NASDAQ:ACET) in a research note issued to investors on Saturday morning. The firm issued a sell rating on the stock.

A number of other research firms also recently issued reports on ACET. HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research report on Friday, March 7th. Guggenheim restated a “buy” rating and issued a $7.00 target price on shares of Adicet Bio in a research note on Friday, March 21st. Finally, JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Stock Performance

NASDAQ:ACET opened at $0.53 on Friday. The stock has a 50-day simple moving average of $0.77 and a 200 day simple moving average of $0.98. Adicet Bio has a one year low of $0.45 and a one year high of $2.25. The company has a market capitalization of $43.48 million, a price-to-earnings ratio of -0.31 and a beta of 1.99.

Adicet Bio (NASDAQ:ACET) last issued its earnings results on Thursday, March 6th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.05. On average, equities research analysts forecast that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Wealthedge Investment Advisors LLC purchased a new stake in shares of Adicet Bio in the 4th quarter valued at approximately $71,000. Squarepoint Ops LLC acquired a new stake in shares of Adicet Bio in the fourth quarter worth $177,000. Two Sigma Advisers LP grew its holdings in shares of Adicet Bio by 12.4% during the fourth quarter. Two Sigma Advisers LP now owns 794,039 shares of the company’s stock valued at $764,000 after buying an additional 87,400 shares in the last quarter. Stonepine Capital Management LLC lifted its stake in Adicet Bio by 14.9% in the 4th quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock worth $673,000 after acquiring an additional 90,554 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in Adicet Bio by 20.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock worth $988,000 after acquiring an additional 175,000 shares during the period. 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.