Adicet Bio’s (ACET) Outperform Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Adicet Bio (NASDAQ:ACET) in a report released on Friday morning, Benzinga reports. They currently have a $5.00 price objective on the stock.

Other research analysts have also issued reports about the company. HC Wainwright reiterated a neutral rating on shares of Adicet Bio in a report on Thursday, September 19th. Canaccord Genuity Group decreased their price objective on Adicet Bio from $19.00 to $8.00 and set a buy rating for the company in a research note on Wednesday, September 11th. Finally, StockNews.com downgraded Adicet Bio from a hold rating to a sell rating in a research report on Tuesday, September 10th.

Adicet Bio Trading Down 6.5 %

ACET opened at $1.43 on Friday. The stock’s 50-day moving average price is $1.44 and its 200 day moving average price is $1.61. Adicet Bio has a 12-month low of $1.05 and a 12-month high of $3.77. The firm has a market cap of $117.51 million, a price-to-earnings ratio of -0.48 and a beta of 1.79.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.03. On average, research analysts forecast that Adicet Bio will post -1.35 earnings per share for the current year.

Institutional Trading of Adicet Bio

A number of institutional investors have recently bought and sold shares of ACET. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Adicet Bio in the 1st quarter valued at about $28,000. Price T Rowe Associates Inc. MD purchased a new position in Adicet Bio in the first quarter valued at approximately $37,000. Point72 DIFC Ltd raised its holdings in Adicet Bio by 77.5% during the second quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock worth $40,000 after purchasing an additional 14,596 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Adicet Bio during the 2nd quarter worth approximately $43,000. Finally, American International Group Inc. lifted its position in shares of Adicet Bio by 74.2% during the 1st quarter. American International Group Inc. now owns 26,319 shares of the company’s stock worth $62,000 after buying an additional 11,214 shares during the last quarter. 83.89% of the stock is owned by hedge funds and other 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.