Adicet Bio (NASDAQ:ACET) Upgraded by StockNews.com to "Hold" Rating

Adicet Bio (NASDAQ:ACET - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Monday.

Several other equities research analysts also recently issued reports on ACET. Guggenheim reiterated a "buy" rating and issued a $7.00 target price on shares of Adicet Bio in a research note on Friday, March 21st. JMP Securities reissued a "market perform" rating on shares of Adicet Bio in a report on Thursday, February 6th. Finally, HC Wainwright reissued a "neutral" rating on shares of Adicet Bio in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Adicet Bio presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.50.

Adicet Bio Price Performance

ACET stock traded up $0.04 during midday trading on Monday, hitting $0.67. The company's stock had a trading volume of 195,997 shares, compared to its average volume of 758,837. The company's fifty day moving average price is $0.71 and its 200 day moving average price is $0.93. Adicet Bio has a twelve month low of $0.45 and a twelve month high of $1.87. The stock has a market capitalization of $55.42 million, a P/E ratio of -0.39 and a beta of 1.76.

Adicet Bio (NASDAQ:ACET - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $0.05. Equities analysts expect that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

A number of large investors have recently bought and sold shares of the company. Wealthedge Investment Advisors LLC bought a new stake in shares of Adicet Bio during the 4th quarter worth approximately $71,000. Squarepoint Ops LLC acquired a new stake in shares of Adicet Bio in the 4th quarter valued at $177,000. Two Sigma Advisers LP increased its stake in shares of Adicet Bio by 12.4% in the 4th quarter. Two Sigma Advisers LP now owns 794,039 shares of the company's stock valued at $764,000 after purchasing an additional 87,400 shares during the last quarter. Stonepine Capital Management LLC raised its holdings in shares of Adicet Bio by 14.9% during the 4th quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company's stock worth $673,000 after buying an additional 90,554 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Adicet Bio by 20.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company's stock worth $988,000 after buying an additional 175,000 shares during the last quarter. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Adicet Bio Company Profile

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.