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

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

Several other equities research analysts also recently issued reports on ACET. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a report on Thursday, November 7th. StockNews.com cut Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Finally, JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Trading Up 4.5 %

Shares of Adicet Bio stock opened at $0.93 on Thursday. The stock has a fifty day simple moving average of $0.94 and a 200 day simple moving average of $1.18. Adicet Bio has a 12-month low of $0.81 and a 12-month high of $2.54. The company has a market capitalization of $76.88 million, a P/E ratio of -0.55 and a beta of 1.86.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP lifted its position in shares of 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 buying an additional 24,203 shares during the last quarter. Northern Trust Corp lifted its position in shares of Adicet Bio by 25.1% during the 4th quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock valued at $135,000 after buying an additional 28,153 shares during the last quarter. Virtu Financial LLC purchased a new stake in Adicet Bio during the 4th quarter worth about $29,000. XTX Topco Ltd lifted its holdings in Adicet Bio by 12.5% during the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock worth $421,000 after purchasing an additional 32,392 shares in the last quarter. Finally, FMR LLC lifted its holdings in Adicet Bio by 31.3% during the 3rd quarter. FMR LLC now owns 276,169 shares of the company’s stock worth $398,000 after purchasing an additional 65,903 shares in 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.