Adicet Bio (NASDAQ:ACET) Cut to Sell at StockNews.com

Adicet Bio (NASDAQ:ACETGet Rating) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

A number of other analysts have also weighed in on ACET. TheStreet lowered Adicet Bio from a “c-” rating to a “d+” rating in a report on Wednesday, June 1st. Truist Financial began coverage on Adicet Bio in a research report on Tuesday, March 8th. They set a “buy” rating and a $30.00 price target on the stock. Sumitomo Mitsui Financial Group started coverage on Adicet Bio in a research report on Thursday, March 31st. They set an “outperform” rating and a $28.00 target price on the stock. JMP Securities reaffirmed a “buy” rating and issued a $21.00 price target on shares of Adicet Bio in a research note on Tuesday, June 7th. Finally, Jefferies Financial Group assumed coverage on shares of Adicet Bio in a research note on Friday, March 4th. They issued a “buy” rating and a $27.00 target price on the stock. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.29.

ACET opened at $12.02 on Wednesday. The stock has a market cap of $480.85 million, a price-to-earnings ratio of -10.45 and a beta of 2.61. The stock’s 50 day moving average price is $12.69 and its 200-day moving average price is $14.22. Adicet Bio has a one year low of $6.25 and a one year high of $21.17.

Adicet Bio (NASDAQ:ACETGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.17. Adicet Bio had a negative return on equity of 13.61% and a negative net margin of 93.18%. The company had revenue of $24.99 million for the quarter, compared to analysts’ expectations of $13.74 million. As a group, sell-side analysts expect that Adicet Bio will post -0.78 EPS for the current year.

In other news, SVP Francesco Galimi sold 7,621 shares of the company’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $21.00, for a total value of $160,041.00. Following the completion of the sale, the senior vice president now directly owns 59,917 shares of the company’s stock, valued at $1,258,257. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 33.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. grew its position in shares of Adicet Bio by 45.2% in the third quarter. Citigroup Inc. now owns 4,243 shares of the company’s stock valued at $33,000 after purchasing an additional 1,320 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Adicet Bio by 69.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,672 shares of the company’s stock worth $33,000 after purchasing an additional 685 shares during the period. Dorsey Wright & Associates acquired a new position in shares of Adicet Bio during the first quarter worth about $70,000. Virtus ETF Advisers LLC purchased a new position in shares of Adicet Bio in the fourth quarter valued at $201,000. Finally, MetLife Investment Management LLC grew its stake in shares of Adicet Bio by 55.8% during the first quarter. MetLife Investment Management LLC now owns 12,717 shares of the company’s stock valued at $254,000 after acquiring an additional 4,557 shares in the last quarter. Institutional investors own 76.21% of the company’s stock.

About Adicet Bio (Get Rating)

Adicet Bio, Inc, a biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for cancer and other diseases. The company offers gamma delta T cells engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and enhance persistence for durable activity in patients.

Featured Articles

Analyst Recommendations for Adicet Bio (NASDAQ:ACET)

Receive News & Ratings for Adicet Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adicet Bio and related companies with MarketBeat.com's FREE daily email newsletter.