Adicet Bio (NASDAQ:ACET) Lifted to “Sell” at StockNews.com

StockNews.com upgraded shares of Adicet Bio (NASDAQ:ACET) to a sell rating in a research note issued to investors on Monday.

ACET has been the subject of a number of other reports. HC Wainwright restated a buy rating and issued a $10.00 price objective on shares of Adicet Bio in a research report on Wednesday, May 15th. Canaccord Genuity Group restated a buy rating and set a $19.00 price objective on shares of Adicet Bio in a research report on Wednesday, March 20th. Finally, Wedbush reiterated an outperform rating and issued a $5.00 target price on shares of Adicet Bio in a research report on Wednesday, May 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $12.83.

Adicet Bio Trading Up 1.2 %

Adicet Bio stock opened at $1.63 on Monday. The firm has a market cap of $133.94 million, a PE ratio of -0.55 and a beta of 1.94. Adicet Bio has a 12 month low of $1.10 and a 12 month high of $6.65. The stock’s 50 day simple moving average is $1.93 and its two-hundred day simple moving average is $2.05.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.03. On average, equities research analysts forecast that Adicet Bio will post -1.36 EPS for the current year.

Hedge Funds Weigh In On Adicet Bio

A number of institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Adicet Bio in the 1st quarter valued at about $28,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Adicet Bio during the 1st quarter valued at approximately $37,000. American International Group Inc. lifted its holdings in Adicet Bio by 74.2% in the first quarter. American International Group Inc. now owns 26,319 shares of the company’s stock valued at $62,000 after acquiring an additional 11,214 shares during the last quarter. Bayesian Capital Management LP purchased a new position in Adicet Bio in the first quarter worth approximately $90,000. Finally, Panagora Asset Management Inc. acquired a new stake in Adicet Bio during the fourth quarter worth $98,000. Hedge funds and other 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.