Adicet Bio (NASDAQ:ACET) Receives Buy Rating from Guggenheim

Guggenheim restated their buy rating on shares of Adicet Bio (NASDAQ:ACET) in a research note published on Friday morning,Benzinga reports. The firm currently has a $7.00 price objective on the stock.

Several other research analysts have also commented on the stock. JMP Securities restated a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Stock Performance

NASDAQ ACET opened at $0.77 on Friday. Adicet Bio has a one year low of $0.74 and a one year high of $2.43. The company’s 50 day moving average price is $0.89 and its 200 day moving average price is $1.10. The firm has a market capitalization of $63.35 million, a price-to-earnings ratio of -0.45 and a beta of 1.97.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.05. Sell-side analysts forecast that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Wealthedge Investment Advisors LLC acquired a new position in shares of Adicet Bio during the fourth quarter worth $71,000. Squarepoint Ops LLC bought a new stake in shares of Adicet Bio in the fourth quarter worth $177,000. Two Sigma Advisers LP increased its stake in shares of Adicet Bio by 12.4% in the fourth quarter. Two Sigma Advisers LP now owns 794,039 shares of the company’s stock worth $764,000 after buying an additional 87,400 shares during the last quarter. Stonepine Capital Management LLC increased its stake in shares of Adicet Bio by 14.9% in the fourth quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock worth $673,000 after buying an additional 90,554 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in shares of Adicet Bio by 20.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock worth $988,000 after buying an additional 175,000 shares during the last quarter. 83.89% of the stock is 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.