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

HC Wainwright reiterated their neutral rating on shares of Adicet Bio (NASDAQ:ACET) in a research note published on Thursday, Benzinga reports.

Several other analysts also recently weighed in on the stock. Wedbush reaffirmed an outperform rating and issued a $5.00 target price on shares of Adicet Bio in a report on Tuesday, September 10th. StockNews.com lowered Adicet Bio from a hold rating to a sell rating in a report on Tuesday, September 10th. Finally, Canaccord Genuity Group reduced their price target on Adicet Bio from $19.00 to $8.00 and set a buy rating for the company in a report on Wednesday, September 11th.

Adicet Bio Stock Up 0.7 %

NASDAQ ACET opened at $1.53 on Thursday. The firm has a market cap of $125.73 million, a P/E ratio of -0.52 and a beta of 1.79. Adicet Bio has a 52-week low of $1.05 and a 52-week high of $3.77. The business’s 50-day moving average price is $1.44 and its 200 day moving average price is $1.62.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.03. As a group, analysts anticipate that Adicet Bio will post -1.35 earnings per share for the current year.

Institutional Investors Weigh In On Adicet Bio

Several institutional investors have recently modified their holdings of the company. RA Capital Management L.P. purchased a new stake in Adicet Bio during the first quarter worth $17,721,000. Vanguard Group Inc. grew its stake in Adicet Bio by 85.5% in the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after acquiring an additional 1,441,503 shares during the period. Blackstone Inc. purchased a new stake in shares of Adicet Bio in the first quarter valued at $2,906,000. Carlyle Group Inc. increased its position in Adicet Bio by 39.4% during the first quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock worth $6,900,000 after purchasing an additional 833,333 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Adicet Bio by 205.4% in the 2nd quarter. Acadian Asset Management LLC now owns 1,085,093 shares of the company’s stock worth $1,312,000 after buying an additional 729,750 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.