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

Adicet Bio (NASDAQ:ACET)‘s stock had its “neutral” rating restated by equities researchers at HC Wainwright in a research report issued on Friday,Benzinga reports.

Other analysts have also recently issued reports about the company. JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a research note on Thursday, November 7th. Finally, StockNews.com downgraded shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.50.

Adicet Bio Stock Performance

ACET stock opened at $0.85 on Friday. Adicet Bio has a 52-week low of $0.81 and a 52-week high of $2.52. The company has a market capitalization of $69.71 million, a P/E ratio of -0.49 and a beta of 1.86. The company has a fifty day moving average price of $0.93 and a 200-day moving average price of $1.16.

Adicet Bio (NASDAQ:ACET) last announced 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. As a group, sell-side analysts forecast that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

A number of large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP lifted its stake in Adicet Bio by 161.3% during 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 in the last quarter. FMR LLC raised its position in shares of Adicet Bio by 31.3% in the third quarter. FMR LLC now owns 276,169 shares of the company’s stock valued at $398,000 after purchasing an additional 65,903 shares during the period. RBF Capital LLC boosted its holdings in Adicet Bio by 62.5% in the 3rd quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock worth $866,000 after buying an additional 231,135 shares during the period. XTX Topco Ltd grew its stake in Adicet Bio by 12.5% in the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock valued at $421,000 after buying an additional 32,392 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Adicet Bio by 14.5% in the third quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock worth $1,107,000 after acquiring an additional 97,567 shares during the period. 83.89% of the stock is currently owned by institutional investors and hedge funds.

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.