Adicet Bio (NASDAQ:ACET) Earns Outperform Rating from Wedbush

Adicet Bio (NASDAQ:ACET)‘s stock had its “outperform” rating reissued by research analysts at Wedbush in a research report issued on Thursday,RTT News reports. They presently have a $5.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 275.94% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Canaccord Genuity Group dropped their price objective on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. StockNews.com downgraded Adicet Bio from a “hold” rating to a “sell” rating in a research report on Thursday. HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research report on Wednesday, October 16th. Finally, Guggenheim assumed coverage on Adicet Bio in a research report on Monday, September 30th. They set a “buy” rating and a $7.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Adicet Bio presently has an average rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Price Performance

Adicet Bio stock traded up $0.03 during trading hours on Thursday, hitting $1.33. The stock had a trading volume of 501,484 shares, compared to its average volume of 1,116,528. Adicet Bio has a 1-year low of $1.05 and a 1-year high of $3.77. The stock has a market capitalization of $109.59 million, a price-to-earnings ratio of -0.53 and a beta of 1.81. The stock’s fifty day moving average is $1.43 and its two-hundred day moving average is $1.43.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, meeting analysts’ consensus estimates of ($0.34). As a group, sell-side analysts anticipate that Adicet Bio will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Adicet Bio in the first quarter valued at $28,000. Price T Rowe Associates Inc. MD acquired a new stake in Adicet Bio in the 1st quarter worth about $37,000. Point72 DIFC Ltd grew its holdings in Adicet Bio by 77.5% in the 2nd quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after buying an additional 14,596 shares during the period. Marshall Wace LLP purchased a new position in shares of Adicet Bio during the 2nd quarter worth about $43,000. Finally, GSA Capital Partners LLP boosted its position in shares of Adicet Bio by 161.3% in the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after acquiring an additional 24,203 shares during the last quarter. 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.