Adicet Bio (NASDAQ:ACET) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Adicet Bio (NASDAQ:ACET – Get Rating) in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a $38.00 price objective on the stock.

ACET has been the subject of several other reports. StockNews.com initiated coverage on shares of Adicet Bio in a research note on Thursday. They set a sell rating for the company. Wedbush restated an outperform rating and set a $30.00 price target on shares of Adicet Bio in a report on Thursday. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $27.50.

Adicet Bio Price Performance

ACET stock opened at $7.43 on Thursday. Adicet Bio has a 12 month low of $6.82 and a 12 month high of $21.87. The firm has a market cap of $318.38 million, a PE ratio of -4.35 and a beta of 2.35. The firm has a 50 day simple moving average of $8.20 and a 200 day simple moving average of $12.62.

Insider Activity

In other news, CTO Don Healey sold 4,533 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $7.57, for a total transaction of $34,314.81. Following the sale, the chief technology officer now owns 66,568 shares in the company, valued at $503,919.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 29.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ACET. EcoR1 Capital LLC acquired a new position in Adicet Bio in the 4th quarter valued at approximately $31,833,000. RA Capital Management L.P. acquired a new position in Adicet Bio in the 3rd quarter valued at approximately $29,284,000. State Street Corp increased its stake in Adicet Bio by 311.5% in the 3rd quarter. State Street Corp now owns 1,958,265 shares of the company’s stock valued at $27,847,000 after buying an additional 1,482,409 shares during the period. Cowen AND Company LLC increased its stake in Adicet Bio by 28.7% in the 4th quarter. Cowen AND Company LLC now owns 3,143,608 shares of the company’s stock valued at $28,104,000 after buying an additional 700,362 shares during the period. Finally, Tang Capital Management LLC acquired a new position in Adicet Bio in the 4th quarter valued at approximately $5,364,000.

About Adicet Bio

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Adicet Bio, Inc is a biotechnology company, which engages in the design and development of off-the-shelf allogeneic gamma delta T cell therapies for cancer and other diseases. The company was founded by Aya Jakobovits in November 2014 and is headquartered in Boston, MA.