Adicet Bio (NASDAQ:ACET) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Adicet Bio (NASDAQ:ACET) in a research note published on Friday morning. The firm issued a hold rating on the stock.

ACET has been the subject of several other research reports. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a report on Friday, March 7th. Guggenheim reiterated a “buy” rating and set a $7.00 price objective on shares of Adicet Bio in a report on Friday, March 21st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Adicet Bio Trading Up 21.8%

Shares of ACET opened at $0.78 on Friday. Adicet Bio has a 12 month low of $0.45 and a 12 month high of $1.71. The stock has a fifty day moving average price of $0.66 and a 200-day moving average price of $0.87. The firm has a market cap of $64.28 million, a PE ratio of -0.45 and a beta of 1.76.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.03. As a group, research analysts forecast that Adicet Bio will post -1.39 EPS for the current year.

Institutional Trading of Adicet Bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position 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 during the period. Wealthedge Investment Advisors LLC raised its stake in shares of Adicet Bio by 208.8% during the 1st quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company’s stock valued at $172,000 after buying an additional 154,037 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Adicet Bio during the 4th quarter valued at about $177,000. Two Sigma Advisers LP raised its stake in shares of Adicet Bio by 12.4% during the 4th quarter. Two Sigma Advisers LP now owns 794,039 shares of the company’s stock valued at $764,000 after buying an additional 87,400 shares during the last quarter. Finally, Stonepine Capital Management LLC raised its stake in shares of Adicet Bio by 14.9% during the 4th quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock valued at $673,000 after buying an additional 90,554 shares during the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.

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.