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

HC Wainwright reiterated their buy rating on shares of Adicet Bio (NASDAQ:ACET) in a research report released on Friday,Benzinga reports. They currently have a $27.00 target price on the stock.

Several other equities analysts have also issued reports on ACET. Guggenheim reissued a “buy” rating and set a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st. Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a report on Tuesday, September 1st. Finally, Wall Street Zen lowered Adicet Bio from a “hold” rating to a “sell” rating in a research report on Saturday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Adicet Bio has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

Adicet Bio Price Performance

Shares of Adicet Bio stock opened at $9.18 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. Adicet Bio has a 1 year low of $6.01 and a 1 year high of $17.44. The firm’s 50-day moving average is $8.82 and its two-hundred day moving average is $8.14. The stock has a market cap of $85.92 million, a price-to-earnings ratio of -0.80 and a beta of 1.58.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.99) EPS for the quarter, missing the consensus estimate of ($1.69) by ($0.30). As a group, research analysts expect that Adicet Bio will post -6.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. NEXTBio Capital Management LP acquired a new stake in Adicet Bio in the fourth quarter worth about $1,329,000. Regeneron Pharmaceuticals Inc. acquired a new position in shares of Adicet Bio during the second quarter valued at about $522,819. Rangeley Capital LLC raised its position in shares of Adicet Bio by 124.0% in the 1st quarter. Rangeley Capital LLC now owns 56,000 shares of the company’s stock valued at $381,000 after purchasing an additional 30,999 shares during the last quarter. Maven Securities LTD purchased a new position in shares of Adicet Bio in the 4th quarter valued at approximately $263,000. Finally, Johnson & Johnson acquired a new stake in Adicet Bio in the 2nd quarter worth approximately $196,811. 83.89% of the stock is owned by institutional investors and hedge funds.

About Adicet Bio

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. Its platform is based on gamma delta T cells, a type of immune cell that may be engineered to recognize and attack tumor cells while potentially offering advantages associated with off-the-shelf cell therapies.

The company’s pipeline has included investigational CAR T-cell products designed to target specific cancer antigens, including ADI-001, an anti-CD19 therapy developed for B-cell malignancies.