Adicet Bio (NASDAQ:ACET) Downgraded by StockNews.com to “Sell”

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

Several other brokerages have also recently issued reports on ACET. HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a research report on Monday. Wedbush reiterated an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a research note on Thursday, November 7th. Canaccord Genuity Group lowered their target price on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Guggenheim began coverage on shares of Adicet Bio in a report on Monday, September 30th. They set a “buy” rating and a $7.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Trading Up 6.4 %

ACET stock traded up $0.06 during trading on Tuesday, reaching $1.03. 627,998 shares of the stock were exchanged, compared to its average volume of 1,105,803. Adicet Bio has a twelve month low of $0.93 and a twelve month high of $3.77. The firm has a market cap of $84.87 million, a P/E ratio of -0.60 and a beta of 1.81. The firm’s 50 day moving average is $1.37 and its 200 day moving average is $1.40.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.34). As a group, analysts predict that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Adicet Bio by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock worth $1,107,000 after acquiring an additional 97,567 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Adicet Bio by 12.5% in the third quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock worth $421,000 after purchasing an additional 32,392 shares in the last quarter. RBF Capital LLC raised its position in shares of Adicet Bio by 62.5% in the third quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock valued at $866,000 after purchasing an additional 231,135 shares during the period. FMR LLC lifted its stake in shares of Adicet Bio by 31.3% during the 3rd quarter. FMR LLC now owns 276,169 shares of the company’s stock valued at $398,000 after buying an additional 65,903 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its stake in shares of Adicet Bio by 161.3% during the 3rd 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 in the last quarter. 83.89% of the stock is owned by hedge funds and other institutional investors.

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.