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

HC Wainwright reaffirmed their buy rating on shares of Adicet Bio (NASDAQ:ACET – Get Rating) in a research note published on Thursday morning, Benzinga reports. HC Wainwright currently has a $38.00 price objective on the stock.

ACET has been the subject of several other reports. Wedbush reaffirmed an outperform rating and issued a $30.00 target price on shares of Adicet Bio in a research note on Thursday. StockNews.com initiated coverage on shares of Adicet Bio in a research note on Thursday. They issued a sell rating for the company. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $27.50.

Adicet Bio Stock Performance

ACET stock opened at $7.43 on Thursday. The stock has a market capitalization of $318.38 million, a P/E ratio of -4.35 and a beta of 2.35. Adicet Bio has a one year low of $6.82 and a one year high of $21.87. The company has a 50 day moving average price of $8.20 and a two-hundred day moving average price of $12.62.

Insider Buying and Selling at Adicet Bio

In other Adicet Bio news, CTO Don Healey sold 10,467 shares of Adicet Bio stock in a transaction on Friday, February 10th. The shares were sold at an average price of $7.98, for a total value of $83,526.66. Following the transaction, the chief technology officer now owns 71,101 shares in the company, valued at approximately $567,385.98. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 29.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Adicet Bio

A number of hedge funds have recently made changes to their positions in ACET. EcoR1 Capital LLC acquired a new position in shares of Adicet Bio during the 4th quarter valued at $31,833,000. RA Capital Management L.P. acquired a new position in shares of Adicet Bio during the 3rd quarter valued at $29,284,000. State Street Corp lifted its holdings in shares of Adicet Bio by 311.5% during the 3rd quarter. State Street Corp now owns 1,958,265 shares of the company’s stock valued at $27,847,000 after acquiring an additional 1,482,409 shares in the last quarter. Cowen AND Company LLC lifted its holdings in shares of Adicet Bio by 28.7% during the 4th quarter. Cowen AND Company LLC now owns 3,143,608 shares of the company’s stock valued at $28,104,000 after acquiring an additional 700,362 shares in the last quarter. Finally, Tang Capital Management LLC acquired a new position in shares of Adicet Bio during the 4th quarter valued at $5,364,000.

About Adicet Bio

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Adicet Bio, Inc is a biotechnology company, which engages in the design and development of off-the-shelf allogeneic gamma delta T cell therapies for cancer and other diseases. The company was founded by Aya Jakobovits in November 2014 and is headquartered in Boston, MA.