HC Wainwright Reiterates Buy Rating for Adicet Bio (NASDAQ:ACET)

Key Points

• HC Wainwright reiterated a Buy rating on Adicet Bio and maintained a $27 price target, implying 203.88% potential upside from the prior close.
• Analyst sentiment is mixed but leans positive: Adicet has a consensus rating of Moderate Buy and a consensus price target of $46.80, despite ratings ranging from Strong Buy to Sell.
• Shares fell 1.4% to $8.88, while the company reported a quarterly loss of $1.99 per share—$0.30 worse than analysts’ expectations. Institutional investors own 83.89% of the stock.

Adicet Bio (NASDAQ:ACET - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $27.00 price target on the stock. HC Wainwright's target price would suggest a potential upside of 203.88% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Adicet Bio in a research report on Friday, August 21st. Guggenheim reaffirmed a "buy" rating and set a $90.00 price target (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Wall Street Zen cut Adicet Bio from a "hold" rating to a "sell" rating in a research note on Saturday, August 29th. Finally, Jefferies Financial Group raised Adicet Bio to a "strong-buy" rating in a research note on Tuesday, September 1st. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $46.80.

Adicet Bio Trading Down 1.4%

Adicet Bio stock traded down $0.12 during trading hours on Friday, reaching $8.88. The company had a trading volume of 9,074 shares, compared to its average volume of 126,815. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. The company has a 50-day moving average price of $8.81 and a 200 day moving average price of $8.12. The firm has a market cap of $83.16 million, a price-to-earnings ratio of -0.78 and a beta of 1.58. Adicet Bio has a 12-month low of $6.01 and a 12-month high of $17.44.

Adicet Bio (NASDAQ:ACET - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.99) earnings per share for the quarter, missing analysts' consensus estimates of ($1.69) by ($0.30). Equities analysts forecast that Adicet Bio will post -6.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ACET. Squarepoint Ops LLC bought a new stake in Adicet Bio during the 2nd quarter valued at about $132,000. AXQ Capital LP bought a new position in shares of Adicet Bio in the second quarter worth approximately $95,000. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of Adicet Bio during the second quarter valued at approximately $522,819. Johnson & Johnson purchased a new stake in shares of Adicet Bio during the second quarter valued at approximately $196,811. Finally, NewEdge Advisors LLC bought a new stake in shares of Adicet Bio during the first quarter valued at approximately $26,000. 83.89% of the stock is owned by hedge funds and other institutional investors.

About Adicet Bio

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. Its platform is based on gamma delta T cells, a type of immune cell that may be engineered to recognize and attack tumor cells while potentially offering advantages associated with off-the-shelf cell therapies.

The company's pipeline has included investigational CAR T-cell products designed to target specific cancer antigens, including ADI-001, an anti-CD19 therapy developed for B-cell malignancies.

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