Adicet Bio's (ACET) "Buy" Rating Reiterated at Guggenheim

Key Points

• Guggenheim has reiterated a "Buy" rating for Adicet Bio (ACET) with a price target of $7.00, while HC Wainwright upgraded the stock to a "strong-buy" rating with a target price of $4.00.
• Adicet Bio's stock rose by 6.6%, opening at $0.81, with the company having a market cap of $67.47 million and a twelve-month price range of $0.45 to $1.57.
• The company reported an earnings per share loss of ($0.34) for the last quarter, missing the consensus estimate of ($0.32).

Guggenheim reiterated their buy rating on shares of Adicet Bio (NASDAQ:ACET - Free Report) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $7.00 price target on the stock.

Separately, HC Wainwright raised shares of Adicet Bio to a "strong-buy" rating and set a $4.00 price target for the company in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Adicet Bio presently has a consensus rating of "Buy" and a consensus target price of $5.33.

Adicet Bio Trading Up 3.0%

Shares of ACET stock traded up $0.02 on Friday, hitting $0.85. The stock had a trading volume of 191,857 shares, compared to its average volume of 612,340. Adicet Bio has a twelve month low of $0.45 and a twelve month high of $1.54. The firm has a market cap of $70.35 million, a P/E ratio of -0.65 and a beta of 1.66. The company has a fifty day moving average price of $0.73 and a two-hundred day moving average price of $0.70.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.02). On average, analysts expect that Adicet Bio will post -1.39 earnings per share for the current year.

Institutional Investors Weigh In On Adicet Bio

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC lifted its stake in Adicet Bio by 1.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company's stock valued at $1,538,000 after purchasing an additional 36,277 shares during the last quarter. Northern Trust Corp lifted its stake in Adicet Bio by 25.1% in the 4th quarter. Northern Trust Corp now owns 140,369 shares of the company's stock valued at $135,000 after purchasing an additional 28,153 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Adicet Bio in the 4th quarter valued at about $177,000. Goldman Sachs Group Inc. lifted its stake in Adicet Bio by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company's stock valued at $2,882,000 after purchasing an additional 63,691 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Adicet Bio by 12.4% in the 4th quarter. Two Sigma Advisers LP now owns 794,039 shares of the company's stock valued at $764,000 after purchasing an additional 87,400 shares during the last quarter. 83.89% of the stock is currently 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.