Adicet Bio (NASDAQ:ACET) Stock Rating Lowered by StockNews.com

Adicet Bio (NASDAQ:ACET) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Other equities research analysts have also issued research reports about the company. Wedbush restated an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research note on Thursday, November 7th. Guggenheim assumed coverage on Adicet Bio in a research note on Monday, September 30th. They set a “buy” rating and a $7.00 price objective for the company. HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research note on Monday. Finally, Canaccord Genuity Group lowered their price objective 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.50.

Adicet Bio Stock Performance

ACET stock opened at $0.97 on Tuesday. Adicet Bio has a 1 year low of $0.93 and a 1 year high of $3.77. The firm has a market cap of $79.69 million, a P/E ratio of -0.57 and a beta of 1.81. The stock has a 50-day simple moving average of $1.36 and a 200-day simple moving average of $1.39.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.34). On average, equities research analysts predict that Adicet Bio will post -1.39 EPS for the current year.

Institutional Trading of Adicet Bio

Several hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD acquired a new position in Adicet Bio during the 1st quarter worth $37,000. Point72 DIFC Ltd lifted its holdings in shares of Adicet Bio by 77.5% in the second quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after buying an additional 14,596 shares during the period. Marshall Wace LLP acquired a new stake in shares of Adicet Bio in the second quarter valued at $43,000. GSA Capital Partners LLP lifted its holdings in shares of Adicet Bio by 161.3% in the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after buying an additional 24,203 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Adicet Bio in the second quarter valued at $62,000. Institutional investors own 83.89% of the company’s stock.

About Adicet Bio

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.