Adicet Bio (NASDAQ:ACET – Get Free Report)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report released on Monday, Benzinga reports. They presently have a $10.00 price objective on the stock.
Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $19.00 price objective on shares of Adicet Bio in a research report on Wednesday, March 20th. StockNews.com raised shares of Adicet Bio to a “sell” rating in a research note on Monday, May 20th. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.20.
Read Our Latest Research Report on Adicet Bio
Adicet Bio Price Performance
Adicet Bio (NASDAQ:ACET – Get Free Report) last announced its earnings results on Tuesday, May 14th. The company reported ($0.35) EPS for the quarter, hitting analysts’ consensus estimates of ($0.35). As a group, equities research analysts anticipate that Adicet Bio will post -1.37 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in ACET. RA Capital Management L.P. purchased a new position in Adicet Bio during the 1st quarter worth $17,721,000. Vanguard Group Inc. lifted its holdings in shares of Adicet Bio by 85.5% in the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after buying an additional 1,441,503 shares during the period. Carlyle Group Inc. grew its position in shares of Adicet Bio by 39.4% during the 1st quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock worth $6,900,000 after buying an additional 833,333 shares in the last quarter. Blackstone Inc. purchased a new position in shares of Adicet Bio during the first quarter valued at $2,906,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Adicet Bio by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 81,986 shares of the company’s stock valued at $155,000 after buying an additional 20,790 shares during the period. 83.89% of the stock is currently owned by institutional investors.
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.
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