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

HC Wainwright reiterated their buy rating on shares of Adicet Bio (NASDAQ:ACETFree Report) in a report published on Wednesday, Benzinga reports. HC Wainwright currently has a $10.00 target price on the stock.

A number of other research firms have also weighed in on ACET. StockNews.com raised shares of Adicet Bio to a sell rating in a research note on Monday, May 20th. Wedbush reissued an outperform rating and issued a $5.00 target price on shares of Adicet Bio in a research note on Wednesday, May 15th. Finally, Canaccord Genuity Group reissued a buy rating and issued a $19.00 target price on shares of Adicet Bio in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Adicet Bio presently has an average rating of Moderate Buy and an average target price of $14.20.

Get Our Latest Analysis on Adicet Bio

Adicet Bio Price Performance

ACET opened at $1.44 on Wednesday. The company’s 50 day simple moving average is $1.80 and its two-hundred day simple moving average is $2.07. Adicet Bio has a 1-year low of $1.10 and a 1-year high of $5.81. The firm has a market capitalization of $118.32 million, a price-to-earnings ratio of -0.49 and a beta of 1.94.

Adicet Bio (NASDAQ:ACETGet Free Report) last released its earnings results on Tuesday, March 19th. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.03. On average, equities analysts anticipate that Adicet Bio will post -1.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ACET. Bank of New York Mellon Corp lifted its holdings in Adicet Bio by 30.3% in the third quarter. Bank of New York Mellon Corp now owns 131,393 shares of the company’s stock valued at $180,000 after acquiring an additional 30,529 shares during the last quarter. Acadian Asset Management LLC raised its position in Adicet Bio by 2,182.5% in the third quarter. Acadian Asset Management LLC now owns 523,009 shares of the company’s stock valued at $715,000 after purchasing an additional 500,095 shares during the period. Exchange Traded Concepts LLC raised its position in Adicet Bio by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 81,986 shares of the company’s stock valued at $155,000 after purchasing an additional 20,790 shares during the period. Panagora Asset Management Inc. purchased a new stake in Adicet Bio in the fourth quarter valued at approximately $98,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Adicet Bio in the first quarter valued at approximately $28,000. 83.89% of the stock is currently 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 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.

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Analyst Recommendations for Adicet Bio (NASDAQ:ACET)

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