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

Adicet Bio (NASDAQ:ACET)‘s stock had its “outperform” rating reissued by Wedbush in a report issued on Thursday,RTT News reports. They presently have a $5.00 price target on the stock.

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

Adicet Bio Stock Performance

Shares of NASDAQ ACET traded down $0.01 during midday trading on Thursday, hitting $0.68. 846,724 shares of the company traded hands, compared to its average volume of 897,070. The stock has a 50-day moving average price of $0.84 and a 200 day moving average price of $0.74. The firm has a market cap of $56.53 million, a P/E ratio of -0.52 and a beta of 1.61. Adicet Bio has a 12-month low of $0.45 and a 12-month high of $1.40.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.03). As a group, equities analysts expect that Adicet Bio will post -1.39 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wealthedge Investment Advisors LLC increased its stake in shares of Adicet Bio by 208.8% during the first quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company’s stock worth $172,000 after buying an additional 154,037 shares during the period. Goldman Sachs Group Inc. grew its holdings in Adicet Bio by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after acquiring an additional 63,691 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Adicet Bio by 1.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company’s stock worth $1,538,000 after acquiring an additional 36,277 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its position in shares of Adicet Bio by 33.3% in the 2nd quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock valued at $49,000 after purchasing an additional 20,000 shares during the last quarter. 83.89% of the stock is currently owned by institutional investors and hedge funds.

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.