Adicet Bio (NASDAQ:ACET) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Adicet Bio (NASDAQ:ACET) from a sell rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Other analysts have also issued reports about the company. HC Wainwright reissued a “buy” rating and set a $27.00 price objective on shares of Adicet Bio in a report on Friday, September 18th. Guggenheim restated a “buy” rating and issued a $90.00 target price (down from $100.00) on shares of Adicet Bio in a report on Thursday, August 6th. Jefferies Financial Group raised Adicet Bio to a “strong-buy” rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a report on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $48.20.

Adicet Bio Stock Down 29.6%

Shares of NASDAQ ACET opened at $6.35 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. The company has a 50-day moving average price of $8.82 and a 200-day moving average price of $8.18. The stock has a market capitalization of $59.44 million, a P/E ratio of -0.55 and a beta of 1.58. Adicet Bio has a 1 year low of $6.01 and a 1 year high of $17.44.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Wednesday, August 5th. The company reported ($1.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.30). On average, equities research analysts forecast that Adicet Bio will post -6.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NEXTBio Capital Management LP bought a new position in shares of Adicet Bio during the 4th quarter worth approximately $1,329,000. Regeneron Pharmaceuticals Inc. bought a new position in shares of Adicet Bio in the second quarter valued at approximately $522,819. Rangeley Capital LLC increased its position in shares of Adicet Bio by 124.0% during the first quarter. Rangeley Capital LLC now owns 56,000 shares of the company’s stock valued at $381,000 after acquiring an additional 30,999 shares during the last quarter. Maven Securities LTD purchased a new stake in shares of Adicet Bio during the fourth quarter valued at approximately $263,000. Finally, Johnson & Johnson bought a new stake in Adicet Bio during the second quarter worth $196,811. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Company Profile

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. Its platform is based on gamma delta T cells, a type of immune cell that may be engineered to recognize and attack tumor cells while potentially offering advantages associated with off-the-shelf cell therapies.

The company’s pipeline has included investigational CAR T-cell products designed to target specific cancer antigens, including ADI-001, an anti-CD19 therapy developed for B-cell malignancies.