Adicet Bio (NASDAQ:ACET) Cut to Sell at Wall Street Zen

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

Other research analysts have also issued reports about the stock. Guggenheim reiterated a “buy” rating and set a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a report on Thursday, August 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a report on Friday, August 21st. Finally, Jefferies Financial Group assumed coverage on shares of Adicet Bio in a research report on Tuesday, May 5th. They set a “buy” rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

Adicet Bio Price Performance

ACET stock opened at $8.70 on Friday. The stock has a market capitalization of $81.44 million, a price-to-earnings ratio of -0.76 and a beta of 1.60. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. Adicet Bio has a 52-week low of $6.01 and a 52-week high of $17.44. The stock’s fifty day simple moving average is $8.63 and its 200-day simple moving average is $7.92.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Wednesday, August 5th. The company reported ($1.99) earnings per share for the quarter, missing the consensus estimate of ($1.69) by ($0.30). Equities research analysts expect that Adicet Bio will post -6.76 EPS for the current year.

Institutional Investors Weigh In On Adicet Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AXQ Capital LP purchased a new position in shares of Adicet Bio in the 2nd quarter worth about $95,000. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of Adicet Bio during the 2nd quarter worth about $522,819. Johnson & Johnson acquired a new stake in Adicet Bio during the 2nd quarter worth approximately $196,811. NewEdge Advisors LLC acquired a new stake in Adicet Bio during the 1st quarter worth approximately $26,000. Finally, Rangeley Capital LLC raised its holdings in Adicet Bio by 124.0% in the first quarter. Rangeley Capital LLC now owns 56,000 shares of the company’s stock valued at $381,000 after buying an additional 30,999 shares during the period. 83.89% of the stock is currently owned by institutional investors and hedge funds.

About Adicet Bio

Adicet Bio, Inc (NASDAQ: ACET) is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of γδ T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of γδ T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.

Adicet’s lead product candidate, ADI-001, is a CAR‐engineered allogeneic γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.