Adicet Bio (NASDAQ:ACET) Downgraded to Sell Rating by StockNews.com

by · The Markets Daily

Adicet Bio (NASDAQ:ACET – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Several other equities research analysts also recently issued reports on ACET. Guggenheim began coverage on shares of Adicet Bio in a research report on Monday, September 30th. They set a “buy” rating and a $7.00 price objective for the company. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research note on Monday. Canaccord Genuity Group reduced their price target on Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.50.

Get Our Latest Stock Analysis on ACET

Adicet Bio Stock Up 6.4 %

Shares of ACET stock traded up $0.06 during trading on Tuesday, reaching $1.03. 627,998 shares of the company’s stock were exchanged, compared to its average volume of 1,105,803. Adicet Bio has a twelve month low of $0.93 and a twelve month high of $3.77. The firm’s fifty day moving average price is $1.37 and its 200-day moving average price is $1.40. The stock has a market capitalization of $84.87 million, a PE ratio of -0.60 and a beta of 1.81.

Adicet Bio (NASDAQ:ACET – Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). As a group, analysts anticipate that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Institutional investors and hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. acquired a new position in shares of Adicet Bio in the 1st quarter valued at approximately $17,721,000. Vanguard Group Inc. raised its position in Adicet Bio by 85.5% during the first quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock valued at $7,347,000 after purchasing an additional 1,441,503 shares in the last quarter. Blackstone Inc. acquired a new position in Adicet Bio during the first quarter valued at approximately $2,906,000. Acadian Asset Management LLC lifted its stake in Adicet Bio by 205.4% during the second quarter. Acadian Asset Management LLC now owns 1,085,093 shares of the company’s stock worth $1,312,000 after purchasing an additional 729,750 shares during the last quarter. Finally, Stonepine Capital Management LLC boosted its holdings in shares of Adicet Bio by 330.6% in the 2nd quarter. Stonepine Capital Management LLC now owns 609,446 shares of the company’s stock valued at $737,000 after purchasing an additional 467,898 shares in the last quarter. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Company Profile

(Get Free Report)

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.

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