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

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

Several other brokerages have also commented on ACET. Canaccord Genuity Group dropped their price target on Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a research report on Friday, September 20th. Guggenheim started coverage on Adicet Bio in a research report on Monday. They issued a “buy” rating and a $7.00 target price for the company. Finally, StockNews.com downgraded Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Trading Down 1.4 %

Adicet Bio stock opened at $1.42 on Monday. The firm has a market capitalization of $117.01 million, a P/E ratio of -0.48 and a beta of 1.79. The stock has a fifty day moving average price of $1.46 and a 200 day moving average price of $1.58. Adicet Bio has a 52 week low of $1.05 and a 52 week high of $3.77.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.03. As a group, equities analysts predict that Adicet Bio will post -1.35 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ACET. RA Capital Management L.P. acquired a new stake in shares of Adicet Bio during the 1st quarter worth approximately $17,721,000. Vanguard Group Inc. raised its position in shares of Adicet Bio by 85.5% during the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after purchasing an additional 1,441,503 shares during the period. Carlyle Group Inc. raised its position in shares of Adicet Bio by 39.4% during the 1st 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 period. Renaissance Technologies LLC raised its position in shares of Adicet Bio by 44.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,512,600 shares of the company’s stock worth $1,830,000 after purchasing an additional 463,600 shares during the period. Finally, Blackstone Inc. acquired a new stake in shares of Adicet Bio during the 1st quarter worth approximately $2,906,000. 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.