Adicet Bio’s (ACET) “Outperform” Rating Reiterated at Wedbush

Adicet Bio (NASDAQ:ACET)‘s stock had its “outperform” rating restated by Wedbush in a research note issued on Thursday,RTT News reports. They currently have a $5.00 price objective on the stock.

Several other analysts have also issued reports on ACET. HC Wainwright upgraded shares of Adicet Bio to a “strong-buy” rating and set a $4.00 price target on the stock in a research report on Wednesday, July 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research note on Thursday, October 30th. Guggenheim raised their target price on Adicet Bio from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group raised shares of Adicet Bio to a “strong-buy” rating in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.67.

Adicet Bio Stock Performance

NASDAQ ACET traded down $0.01 on Thursday, reaching $0.68. The company’s stock had a trading volume of 846,724 shares, compared to its average volume of 897,070. The stock has a market cap of $56.53 million, a PE ratio of -0.52 and a beta of 1.61. Adicet Bio has a twelve month low of $0.45 and a twelve month high of $1.40. The firm’s 50 day moving average is $0.84 and its two-hundred day moving average is $0.74.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). Equities research analysts anticipate that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in Adicet Bio by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock valued at $2,882,000 after acquiring an additional 63,691 shares during the period. Acadian Asset Management LLC lifted its position in shares of Adicet Bio by 1.8% during the first quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company’s stock valued at $1,538,000 after purchasing an additional 36,277 shares in the last quarter. Wealthedge Investment Advisors LLC grew its stake in Adicet Bio by 37.4% in the 2nd quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after buying an additional 85,307 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in Adicet Bio by 33.3% in the 2nd quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors own 83.89% of the company’s stock.

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.