Adicet Bio (NASDAQ:ACET) Now Covered by Guggenheim

Guggenheim initiated coverage on shares of Adicet Bio (NASDAQ:ACET) in a report published on Monday, Marketbeat Ratings reports. The firm issued a buy rating and a $7.00 price target on the stock.

ACET has been the subject of a number of other reports. StockNews.com lowered shares of Adicet Bio from a hold rating to a sell rating in a report on Tuesday, September 10th. HC Wainwright reissued a neutral rating on shares of Adicet Bio in a research note on Thursday, September 19th. Canaccord Genuity Group reduced their target price on shares of Adicet Bio from $19.00 to $8.00 and set a buy rating on the stock in a report on Wednesday, September 11th. Finally, Wedbush restated an outperform rating and set a $5.00 target price on shares of Adicet Bio in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Adicet Bio presently has an average rating of Hold and an average target price of $7.50.

Adicet Bio Stock Up 4.9 %

ACET opened at $1.49 on Monday. The company has a market capitalization of $122.78 million, a PE ratio of -0.51 and a beta of 1.79. The firm has a 50-day simple moving average of $1.46 and a two-hundred day simple moving average of $1.57. Adicet Bio has a 52 week low of $1.05 and a 52 week high of $3.77.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.03. As a group, sell-side analysts expect that Adicet Bio will post -1.35 earnings per share for the current year.

Institutional Trading of Adicet Bio

Institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. purchased a new stake in shares of Adicet Bio in the first quarter valued at $17,721,000. Vanguard Group Inc. grew its holdings in Adicet Bio by 85.5% during the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock valued at $7,347,000 after purchasing an additional 1,441,503 shares during the last quarter. Blackstone Inc. purchased a new stake in Adicet Bio in the 1st quarter worth about $2,906,000. Carlyle Group Inc. raised its position in Adicet Bio by 39.4% in the 1st quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock worth $6,900,000 after purchasing an additional 833,333 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in Adicet Bio by 205.4% in the second quarter. Acadian Asset Management LLC now owns 1,085,093 shares of the company’s stock worth $1,312,000 after purchasing an additional 729,750 shares during the last quarter. 83.89% of the stock is currently owned by institutional investors.

Adicet Bio Company Profile

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.