Adicet Bio’s (ACET) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Adicet Bio (NASDAQ:ACETFree Report) in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

Several other equities analysts have also issued reports on the company. Wedbush reaffirmed an outperform rating and set a $5.00 price objective on shares of Adicet Bio in a report on Wednesday, May 15th. StockNews.com upgraded shares of Adicet Bio to a sell rating in a research note on Monday, May 20th. Finally, Canaccord Genuity Group reiterated a buy rating and set a $19.00 target price on shares of Adicet Bio in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $14.20.

View Our Latest Stock Analysis on ACET

Adicet Bio Stock Performance

Shares of ACET stock opened at $1.27 on Monday. The stock’s 50-day moving average is $1.40 and its two-hundred day moving average is $2.06. The firm has a market cap of $104.36 million, a price-to-earnings ratio of -0.43 and a beta of 1.80. Adicet Bio has a 1 year low of $1.05 and a 1 year high of $3.77.

Adicet Bio (NASDAQ:ACETGet Free Report) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35). As a group, research analysts predict that Adicet Bio will post -1.37 EPS for the current year.

Institutional Investors Weigh In On Adicet Bio

A number of hedge funds have recently added to or reduced their stakes in the company. RA Capital Management L.P. acquired a new stake in Adicet Bio in the first quarter valued at about $17,721,000. Bayesian Capital Management LP acquired a new stake in Adicet Bio in the first quarter valued at about $90,000. Blackstone Inc. acquired a new stake in Adicet Bio in the first quarter valued at about $2,906,000. Price T Rowe Associates Inc. MD acquired a new stake in Adicet Bio in the first quarter valued at about $37,000. Finally, American International Group Inc. lifted its position in Adicet Bio by 74.2% in the first quarter. American International Group Inc. now owns 26,319 shares of the company’s stock valued at $62,000 after purchasing an additional 11,214 shares during the period. Institutional investors and hedge funds own 83.89% of the company’s stock.

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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