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

StockNews.com lowered shares of Adicet Bio (NASDAQ:ACETFree Report) from a hold rating to a sell rating in a research note published on Thursday morning.

Several other equities analysts have also issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research note on Wednesday, October 16th. Guggenheim started coverage on shares of Adicet Bio in a report on Monday, September 30th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Adicet Bio currently has an average rating of “Hold” and a consensus price target of $7.50.

Read Our Latest Stock Report on ACET

Adicet Bio Price Performance

Adicet Bio stock traded down $0.03 during trading hours on Thursday, hitting $1.31. The company had a trading volume of 346,381 shares, compared to its average volume of 1,112,906. The firm has a 50-day moving average of $1.43 and a 200 day moving average of $1.43. The firm has a market cap of $107.53 million, a PE ratio of -0.78 and a beta of 1.81. Adicet Bio has a one year low of $1.05 and a one year high of $3.77.

Adicet Bio (NASDAQ:ACETGet Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.34). As a group, research analysts expect that Adicet Bio will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On Adicet Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Adicet Bio in the 1st quarter worth $28,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Adicet Bio in the first quarter worth $37,000. Point72 DIFC Ltd increased its holdings in shares of Adicet Bio by 77.5% during the second quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after acquiring an additional 14,596 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Adicet Bio in the 2nd quarter worth about $43,000. Finally, GSA Capital Partners LLP boosted its stake in Adicet Bio by 161.3% in the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after purchasing an additional 24,203 shares in the last quarter. 83.89% of the stock is currently owned by institutional investors.

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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