Adicet Bio (NASDAQ:ACET) Now Covered by Analysts at StockNews.com

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

ACET has been the topic of a number of other research reports. HC Wainwright restated a "neutral" rating on shares of Adicet Bio in a research report on Friday, March 7th. Guggenheim restated a "buy" rating and issued a $7.00 price target on shares of Adicet Bio in a research report on Friday, March 21st. Finally, JMP Securities restated 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $7.50.

Adicet Bio Stock Performance

Shares of ACET traded down $0.05 during mid-day trading on Friday, reaching $0.70. The company had a trading volume of 492,579 shares, compared to its average volume of 727,489. The company's 50 day simple moving average is $0.66 and its 200 day simple moving average is $0.86. Adicet Bio has a 1-year low of $0.45 and a 1-year high of $1.70. The company has a market capitalization of $57.90 million, a price-to-earnings ratio of -0.41 and a beta of 1.76.

Adicet Bio (NASDAQ:ACET - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.31) earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.03. As a group, equities analysts forecast that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adicet Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Adicet Bio by 10,321.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company's stock worth $116,000 after buying an additional 79,582 shares during the last quarter. Regeneron Pharmaceuticals Inc. purchased a new position in shares of Adicet Bio in the 4th quarter worth about $931,000. Norges Bank purchased a new position in shares of Adicet Bio in the 4th quarter worth about $413,000. Virtu Financial LLC purchased a new position in shares of Adicet Bio in the 4th quarter worth about $29,000. Finally, Bridgeway Capital Management LLC lifted its holdings in Adicet Bio by 20.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company's stock valued at $988,000 after purchasing an additional 175,000 shares during the last quarter. 83.89% of the stock is owned by hedge funds and other institutional investors.

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.