Adicet Bio (NASDAQ:ACET) Lowered to Sell Rating by StockNews.com

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

ACET has been the topic of several other research reports. Canaccord Genuity Group dropped their price target on Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Guggenheim began coverage on shares of Adicet Bio in a research note on Monday, September 30th. They set a “buy” rating and a $7.00 target price on the stock. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research note on Wednesday, October 16th. Finally, Wedbush reissued an “outperform” rating and set a $5.00 target price on shares of Adicet Bio in a research note on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Adicet Bio has an average rating of “Hold” and an average target price of $7.50.

Adicet Bio Stock Up 2.3 %

ACET traded up $0.03 during trading on Thursday, reaching $1.33. The stock had a trading volume of 501,484 shares, compared to its average volume of 1,116,528. The firm has a market capitalization of $109.59 million, a price-to-earnings ratio of -0.53 and a beta of 1.81. Adicet Bio has a 1-year low of $1.05 and a 1-year high of $3.77. The stock has a 50 day moving average of $1.43 and a two-hundred day moving average of $1.43.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.34). On average, research analysts forecast that Adicet Bio will post -1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On Adicet Bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP grew its holdings 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 acquiring an additional 24,203 shares in the last quarter. Castleview Partners LLC purchased a new position in shares of Adicet Bio during the 3rd quarter valued at $75,000. Point72 DIFC Ltd grew its holdings in shares of Adicet Bio by 77.5% during the 2nd quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after acquiring an additional 14,596 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Adicet Bio by 790.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 409,049 shares of the company’s stock valued at $495,000 after acquiring an additional 363,095 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Adicet Bio during the 2nd quarter valued at $62,000. 83.89% of the stock is currently 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.