HC Wainwright Increases Adicet Bio (NASDAQ:ACET) Price Target to $9.00

Adicet Bio (NASDAQ:ACET) had its price target upped by equities research analysts at HC Wainwright from $4.00 to $9.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Other analysts have also recently issued reports about the company. Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a report on Tuesday, October 7th. Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Adicet Bio in a research report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a research report on Thursday, October 30th. Finally, Guggenheim increased their price target on Adicet Bio from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Adicet Bio has an average rating of “Moderate Buy” and a consensus price target of $7.33.

Adicet Bio Trading Down 1.9%

ACET stock opened at $0.68 on Friday. The firm has a 50-day moving average price of $0.83 and a 200-day moving average price of $0.74. Adicet Bio has a 12 month low of $0.45 and a 12 month high of $1.40. The stock has a market capitalization of $56.34 million, a P/E ratio of -0.54 and a beta of 1.61.

Adicet Bio (NASDAQ:ACET) last issued 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 predict that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

A number of institutional investors and hedge funds have recently made changes to their positions in ACET. Vontobel Holding Ltd. boosted its stake 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 worth $49,000 after buying an additional 20,000 shares during the last quarter. 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 worth $1,538,000 after acquiring an additional 36,277 shares in the last quarter. Goldman Sachs Group Inc. lifted 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 purchasing an additional 63,691 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC boosted its holdings 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 purchasing an additional 85,307 shares during the period. Institutional investors and hedge funds 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.