Analysts’ Weekly Ratings Changes for Adicet Bio (ACET)

Several brokerages have updated their recommendations and price targets on shares of Adicet Bio (NASDAQ: ACET) in the last few weeks:

• 11/19/2024 – Adicet Bio was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/18/2024 – Adicet Bio had its “neutral” rating reaffirmed by analysts at HC Wainwright.
• 11/7/2024 – Adicet Bio was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/7/2024 – Adicet Bio had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $5.00 price target on the stock.
• 10/16/2024 – Adicet Bio had its “neutral” rating reaffirmed by analysts at HC Wainwright.
• 10/8/2024 – Adicet Bio was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 9/30/2024 – Adicet Bio had its “neutral” rating reaffirmed by analysts at HC Wainwright.
• 9/30/2024 – Adicet Bio is now covered by analysts at Guggenheim. They set a “buy” rating and a $7.00 price target on the stock.

Adicet Bio Stock Down 1.5 %

Shares of ACET stock traded down $0.01 during trading hours on Friday, hitting $0.90. 1,171,661 shares of the company’s stock were exchanged, compared to its average volume of 1,104,687. Adicet Bio, Inc. has a fifty-two week low of $0.89 and a fifty-two week high of $3.77. The firm has a market cap of $74.16 million, a P/E ratio of -0.53 and a beta of 1.81. The firm has a 50 day moving average of $1.34 and a two-hundred day moving average of $1.39.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, hitting the consensus estimate of ($0.34). On average, equities analysts forecast that Adicet Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ACET. RA Capital Management L.P. acquired a new position in Adicet Bio during the first quarter worth $17,721,000. Vanguard Group Inc. increased its position in shares of Adicet Bio by 85.5% during the first quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after acquiring an additional 1,441,503 shares during the period. Renaissance Technologies LLC raised its stake in shares of Adicet Bio by 44.2% in the second quarter. Renaissance Technologies LLC now owns 1,512,600 shares of the company’s stock valued at $1,830,000 after acquiring an additional 463,600 shares in the last quarter. Blackstone Inc. purchased a new position in Adicet Bio in the first quarter valued at $2,906,000. Finally, Acadian Asset Management LLC increased its stake in shares of 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 buying an additional 729,750 shares during the period. Institutional investors and hedge funds own 83.89% of the company’s stock.

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.