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

Key Points

• Wall Street Zen upgraded Adicet Bio from a "strong sell" to a "sell" rating, signaling a slight improvement in sentiment but remaining negative overall.
• Analyst consensus is a Moderate Buy with a wide range of views and an average price target of $56.25, which is far above the current share price (~$8.20) and the company's ~$78.7M market cap.
• Insiders and institutions are active: Ra Capital added 74,751 shares and insiders acquired 223,596 shares in the past 90 days, while institutional ownership is high at 83.89%.

Adicet Bio (NASDAQ:ACET - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

Other research analysts also recently issued reports about the stock. Canaccord Genuity Group set a $18.00 price objective on shares of Adicet Bio and gave the company a "buy" rating in a research report on Tuesday, January 6th. Guggenheim lowered their price objective on shares of Adicet Bio from $128.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, March 13th. Weiss Ratings raised shares of Adicet Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, April 24th. HC Wainwright lowered their price objective on shares of Adicet Bio from $50.00 to $27.00 and set a "buy" rating on the stock in a research report on Monday, March 23rd. Finally, Truist Financial raised shares of Adicet Bio to a "strong-buy" rating in a research report on Wednesday, March 25th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Adicet Bio presently has an average rating of "Moderate Buy" and an average price target of $56.25.

Adicet Bio Price Performance

ACET stock opened at $8.20 on Friday. Adicet Bio has a 52-week low of $6.01 and a 52-week high of $17.44. The company's 50 day simple moving average is $7.24 and its 200-day simple moving average is $8.71. The firm has a market capitalization of $78.72 million, a P/E ratio of -0.46 and a beta of 1.50.

Adicet Bio (NASDAQ:ACET - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported ($2.94) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.23) by $0.29. Sell-side analysts predict that Adicet Bio will post -10.26 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Ra Capital Management, L.P. acquired 74,751 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The stock was acquired at an average cost of $7.27 per share, with a total value of $543,439.77. Following the acquisition, the insider owned 1,182,624 shares in the company, valued at approximately $8,597,676.48. This represents a 6.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have acquired 223,596 shares of company stock worth $1,603,934. 4.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Adicet Bio

Several large investors have recently modified their holdings of the company. Franklin Resources Inc. acquired a new position in Adicet Bio during the 4th quarter valued at $5,276,000. Goldman Sachs Group Inc. raised its stake in Adicet Bio by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company's stock valued at $2,882,000 after purchasing an additional 63,691 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Adicet Bio during the 4th quarter valued at $2,310,000. Prosight Management LP acquired a new position in Adicet Bio during the 4th quarter valued at $2,107,000. Finally, ADAR1 Capital Management LLC acquired a new position in Adicet Bio during the 4th quarter valued at $1,083,000. 83.89% of the stock is owned by institutional investors.

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.

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