Adicet Bio (NASDAQ:ACET) Stock Moved Up to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Adicet Bio from “sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $46.80.
• Adicet Bio shares opened at $9.02, up 9.1%, with a market capitalization of approximately $84.4 million; the stock has traded between $6.01 and $17.44 over the past year.
• The clinical-stage biotechnology company missed its latest earnings estimate, reporting a quarterly loss of $1.99 per share versus the expected $1.69 loss. Institutional investors and hedge funds own 83.89% of the company.

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

Other research analysts have also recently issued reports about the company. Guggenheim restated a "buy" rating and issued a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a research note on Thursday, August 6th. Jefferies Financial Group upgraded Adicet Bio to a "strong-buy" rating in a research report on Tuesday, September 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adicet Bio in a report on Friday, August 21st. Finally, HC Wainwright reissued a "buy" rating and set a $27.00 price target on shares of Adicet Bio in a research report on Friday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Adicet Bio presently has an average rating of "Moderate Buy" and an average target price of $46.80.

Adicet Bio Stock Up 9.1%

Adicet Bio stock opened at $9.02 on Friday. The business has a fifty day moving average price of $8.85 and a 200-day moving average price of $8.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. Adicet Bio has a 1-year low of $6.01 and a 1-year high of $17.44. The stock has a market capitalization of $84.43 million, a price-to-earnings ratio of -0.79 and a beta of 1.58.

Adicet Bio (NASDAQ:ACET - Get Free Report) last issued its quarterly 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 forecast that Adicet Bio will post -6.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC purchased a new position in shares of Adicet Bio during the 2nd quarter valued at approximately $132,000. AXQ Capital LP purchased a new stake in Adicet Bio during the second quarter worth $95,000. Regeneron Pharmaceuticals Inc. acquired a new stake in Adicet Bio during the second quarter valued at $522,819. Johnson & Johnson acquired a new stake in Adicet Bio during the second quarter valued at $196,811. Finally, NewEdge Advisors LLC purchased a new position in Adicet Bio in the first quarter valued at $26,000. 83.89% of the stock is owned by institutional investors and hedge funds.

Adicet Bio Company Profile

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. Its platform is based on gamma delta T cells, a type of immune cell that may be engineered to recognize and attack tumor cells while potentially offering advantages associated with off-the-shelf cell therapies.

The company's pipeline has included investigational CAR T-cell products designed to target specific cancer antigens, including ADI-001, an anti-CD19 therapy developed for B-cell malignancies.

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