Adicet Bio (NASDAQ:ACET) Earns Buy Rating from HC Wainwright

Adicet Bio (NASDAQ:ACET)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They presently have a $27.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 203.88% from the stock’s current price.

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

Adicet Bio Stock Performance

Shares of NASDAQ:ACET traded down $0.12 during midday trading on Friday, reaching $8.88. 9,074 shares of the company’s stock traded hands, compared to its average volume of 126,815. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.71 and a current ratio of 6.71. Adicet Bio has a one year low of $6.01 and a one year high of $17.44. The company has a market cap of $83.16 million, a price-to-earnings ratio of -0.78 and a beta of 1.58. The stock has a 50 day moving average of $8.81 and a 200 day moving average of $8.12.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ACET. NEXTBio Capital Management LP purchased a new position in shares of Adicet Bio in the fourth quarter valued at about $1,329,000. Regeneron Pharmaceuticals Inc. purchased a new position in Adicet Bio in the 2nd quarter worth approximately $522,819. Squarepoint Ops LLC bought a new position in Adicet Bio in the 2nd quarter worth approximately $132,000. AXQ Capital LP bought a new position in Adicet Bio in the 2nd quarter worth approximately $95,000. Finally, NewEdge Advisors LLC purchased a new stake in Adicet Bio during the 1st quarter valued at approximately $26,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

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.