HC Wainwright Reiterates “Buy” Rating for Adicet Bio (NASDAQ:ACET)

Adicet Bio (NASDAQ:ACET)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued to clients and investors on Friday, September 18th, MarketBeat.com reports. They currently have a $27.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 199.33% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st. Guggenheim reissued a “buy” rating and issued a $90.00 price target (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a report on Tuesday, September 1st. Finally, Wall Street Zen lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Saturday, August 29th. Two equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

Adicet Bio Stock Up 9.1%

Adicet Bio stock traded up $0.75 during mid-day trading on Friday, reaching $9.02. 602,833 shares of the company’s stock were exchanged, compared to its average volume of 131,330. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. Adicet Bio has a twelve month low of $6.01 and a twelve month high of $17.44. The company has a market cap of $84.44 million, a P/E ratio of -0.79 and a beta of 1.58. The company has a fifty day moving average of $8.83 and a 200-day moving average of $8.18.

Adicet Bio (NASDAQ:ACET) last issued 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). Sell-side analysts expect that Adicet Bio will post -6.76 EPS for the current year.

Institutional Investors Weigh In On Adicet Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new stake in Adicet Bio during the 2nd quarter worth $132,000. AXQ Capital LP purchased a new position in Adicet Bio during the 2nd quarter worth $95,000. Regeneron Pharmaceuticals Inc. purchased a new position in Adicet Bio during the 2nd quarter worth $522,819. Johnson & Johnson purchased a new position in Adicet Bio during the 2nd quarter worth $196,811. Finally, NewEdge Advisors LLC purchased a new position in Adicet Bio during the 1st quarter worth $26,000. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Adicet Bio Company Profile

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.