HC Wainwright Reiterates Neutral Rating for Adicet Bio (NASDAQ:ACET)

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

ACET has been the topic of several other reports. StockNews.com downgraded Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Adicet Bio has an average rating of “Hold” and an average price target of $7.50.

Adicet Bio Trading Up 2.1 %

Adicet Bio stock traded up $0.02 during mid-day trading on Wednesday, hitting $0.94. The company had a trading volume of 16,965,359 shares, compared to its average volume of 1,039,347. The company has a market capitalization of $77.37 million, a price-to-earnings ratio of -0.55 and a beta of 1.86. The company’s fifty day moving average is $0.96 and its 200-day moving average is $1.23. Adicet Bio has a 12-month low of $0.81 and a 12-month high of $3.62.

Adicet Bio (NASDAQ:ACET) last announced its earnings results 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 expect that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Trading of Adicet Bio

A number of hedge funds and other institutional investors have recently modified their holdings of ACET. Marshall Wace LLP bought a new stake in shares of Adicet Bio during the second quarter worth about $43,000. GSA Capital Partners LLP raised its position in Adicet Bio by 161.3% in the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after purchasing an additional 24,203 shares during the period. Castleview Partners LLC purchased a new position in shares of Adicet Bio in the third quarter valued at about $75,000. JPMorgan Chase & Co. increased its position in shares of Adicet Bio by 10,321.9% in the third quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock valued at $116,000 after acquiring an additional 79,582 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Adicet Bio by 478.3% during the 2nd quarter. AQR Capital Management LLC now owns 136,765 shares of the company’s stock valued at $165,000 after purchasing an additional 113,115 shares in the last quarter. 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.