Adicet Bio (NASDAQ:ACET) Stock Rating Lowered by Wall Street Zen

Adicet Bio (NASDAQ:ACET) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the company. HC Wainwright raised their price objective on Adicet Bio from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adicet Bio in a report on Friday, August 21st. Benchmark reiterated a “buy” rating on shares of Adicet Bio in a research note on Tuesday, September 29th. Guggenheim reiterated a “buy” rating and issued a $90.00 target price (down from $100.00) on shares of Adicet Bio in a research note on Thursday, August 6th. Finally, Wedbush reiterated an “outperform” rating and issued a $28.00 target price (up from $25.00) on shares of Adicet Bio in a research note on Monday, September 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Adicet Bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

Adicet Bio Stock Performance

NASDAQ ACET opened at $4.57 on Friday. Adicet Bio has a 52 week low of $4.57 and a 52 week high of $16.96. The business has a 50 day moving average price of $8.09 and a 200-day moving average price of $8.08. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. The company has a market cap of $42.78 million, a price-to-earnings ratio of -0.40 and a beta of 1.62.

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

Institutional Investors Weigh In On Adicet Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC bought a new position in shares of Adicet Bio in the first quarter worth $26,000. Dimensional Fund Advisors LP purchased a new position in shares of Adicet Bio in the first quarter valued at $73,000. AXQ Capital LP purchased a new position in shares of Adicet Bio in the second quarter valued at $95,000. Squarepoint Ops LLC purchased a new position in shares of Adicet Bio in the second quarter valued at $132,000. Finally, Johnson & Johnson bought a new stake in shares of Adicet Bio during the 2nd quarter valued at $196,811. Institutional investors own 83.89% of the company’s stock.

About Adicet Bio

Adicet Bio, Inc is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” T-cell therapies for cancer and autoimmune diseases. The company’s platform uses gamma delta T cells, a distinct type of immune cell that it engineers with chimeric antigen receptors (CARs) to recognize and attack diseased cells.

Adicet’s development programs have included ADI-001, an allogeneic gamma delta CAR T-cell therapy designed to target CD19 on B-cell malignancies, including certain forms of lymphoma.