Adicet Bio (NASDAQ:ACET) Stock Rating Reaffirmed by HC Wainwright

Adicet Bio (NASDAQ:ACETGet Free Report)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $10.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 316.67% from the stock’s current price.

ACET has been the subject of a number of other research reports. StockNews.com raised Adicet Bio to a “sell” rating in a research report on Friday, March 22nd. Wedbush restated an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research note on Wednesday, March 20th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $19.00 price target on shares of Adicet Bio in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.83.

Get Our Latest Analysis on Adicet Bio

Adicet Bio Stock Up 2.1 %

ACET opened at $2.40 on Tuesday. Adicet Bio has a 12 month low of $1.10 and a 12 month high of $7.50. The company has a fifty day simple moving average of $2.57 and a 200 day simple moving average of $1.94. The stock has a market cap of $197.16 million, a P/E ratio of -0.72 and a beta of 1.88.

Adicet Bio (NASDAQ:ACETGet Free Report) last released its quarterly earnings data on Tuesday, March 19th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.03. On average, equities research analysts expect that Adicet Bio will post -1.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Orbimed Advisors Llc acquired 3,125,000 shares of the stock in a transaction on Thursday, January 25th. The shares were purchased at an average price of $2.40 per share, for a total transaction of $7,500,000.00. Following the transaction, the director now directly owns 7,526,359 shares of the company’s stock, valued at $18,063,261.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 29.50% of the company’s stock.

Institutional Trading of Adicet Bio

Several large investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Adicet Bio by 14.1% during the 3rd quarter. BlackRock Inc. now owns 2,109,787 shares of the company’s stock worth $30,003,000 after purchasing an additional 260,705 shares in the last quarter. State Street Corp grew its holdings in shares of Adicet Bio by 311.5% during the 3rd quarter. State Street Corp now owns 1,958,265 shares of the company’s stock worth $27,847,000 after purchasing an additional 1,482,409 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Adicet Bio by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 1,685,075 shares of the company’s stock worth $3,185,000 after purchasing an additional 12,689 shares in the last quarter. Polar Capital Holdings Plc grew its holdings in shares of Adicet Bio by 1.1% during the 1st quarter. Polar Capital Holdings Plc now owns 1,543,670 shares of the company’s stock worth $30,827,000 after purchasing an additional 16,397 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Adicet Bio by 42.3% during the 2nd quarter. FMR LLC now owns 809,129 shares of the company’s stock worth $11,813,000 after purchasing an additional 240,563 shares in the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

Adicet Bio Company Profile

(Get Free Report)

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 in pipeline includes ADI-001, which is in Phase I clinical trial for the treatment of non-Hodgkin's lymphoma.

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