Adicet Bio (NASDAQ:ACET) Earns Sell (E+) Rating from Weiss Ratings

Key Points

• Adicet Bio's stock has been restated with a strong sell (E+) rating by Weiss Ratings, indicating caution for potential investors.
• Despite the negative rating, other analysts like Guggenheim and HC Wainwright have given it a buy or strong-buy rating, with target prices of $8.00 and $4.00 respectively.
• Adicet Bio's 52-week stock range is between $0.45 and $1.54, and the company reported an EPS of ($0.34), missing estimates.

Adicet Bio (NASDAQ:ACET - Get Free Report)'s stock had its "sell (e+)" rating restated by analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also issued reports on the company. Guggenheim boosted their target price on Adicet Bio from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Wednesday. HC Wainwright upgraded Adicet Bio to a "strong-buy" rating and set a $4.00 target price for the company in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Adicet Bio presently has a consensus rating of "Moderate Buy" and an average price target of $5.67.

Adicet Bio Stock Up 4.3%

NASDAQ ACET traded up $0.04 during trading hours on Wednesday, hitting $0.89. 1,765,568 shares of the company were exchanged, compared to its average volume of 748,381. Adicet Bio has a 52 week low of $0.45 and a 52 week high of $1.54. The stock has a 50-day moving average price of $0.75 and a 200 day moving average price of $0.71. The stock has a market cap of $74.09 million, a PE ratio of -0.67 and a beta of 1.62.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.02). As a group, sell-side analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current year.

Hedge Funds Weigh In On Adicet Bio

Large investors have recently made changes to their positions in the business. Vontobel Holding Ltd. increased its position in shares of Adicet Bio by 33.3% during the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company's stock worth $49,000 after purchasing an additional 20,000 shares in the last quarter. Wealthedge Investment Advisors LLC increased its position in shares of Adicet Bio by 208.8% during the first quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company's stock worth $172,000 after purchasing an additional 154,037 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Adicet Bio by 1.8% during the first quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company's stock worth $1,538,000 after purchasing an additional 36,277 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Adicet Bio by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company's stock worth $2,882,000 after purchasing an additional 63,691 shares in the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

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.

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