Adicet Bio (NASDAQ:ACET) Given “Neutral” Rating at HC Wainwright

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

ACET has been the subject of several other research reports. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research report on Thursday, November 7th. JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. Finally, StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.50.

Adicet Bio Stock Performance

Shares of ACET opened at $0.86 on Thursday. The company has a 50-day simple moving average of $0.94 and a 200-day simple moving average of $1.18. The firm has a market capitalization of $70.83 million, a P/E ratio of -0.50 and a beta of 1.86. Adicet Bio has a 52 week low of $0.81 and a 52 week high of $2.54.

Institutional Trading of Adicet Bio

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Adicet Bio during the fourth quarter worth about $29,000. GSA Capital Partners LLP grew its stake in Adicet Bio by 161.3% during the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after buying an additional 24,203 shares during the last quarter. JPMorgan Chase & Co. grew its stake 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 buying an additional 79,582 shares during the last quarter. Northern Trust Corp grew its stake in Adicet Bio by 25.1% during the fourth quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock worth $135,000 after buying an additional 28,153 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Adicet Bio during the fourth quarter worth about $177,000. 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.