Adicet Bio (NASDAQ:ACET) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Adicet Bio from “hold” to “sell,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $46.80.
• Adicet Bio shares opened at $9.06, with a market capitalization of approximately $84.8 million and a 52-week trading range of $6.01 to $17.44.
• The company reported quarterly EPS of -$1.99, missing the consensus estimate of -$1.69; institutional investors and hedge funds own 83.89% of outstanding shares.

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

Several other equities analysts also recently commented on ACET. Weiss Ratings reissued a "sell (d-)" rating on shares of Adicet Bio in a research note on Friday, August 21st. Guggenheim reiterated a "buy" rating and set a $90.00 price target (down from $100.00) on shares of Adicet Bio in a report on Thursday, August 6th. Finally, Jefferies Financial Group initiated coverage on Adicet Bio in a research note on Tuesday, May 5th. They issued a "buy" rating and a $19.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $46.80.

Adicet Bio Price Performance

Shares of NASDAQ ACET opened at $9.06 on Friday. The stock has a market capitalization of $84.81 million, a PE ratio of -0.79 and a beta of 1.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. The business has a fifty day moving average price of $8.62 and a two-hundred day moving average price of $7.90. Adicet Bio has a fifty-two week low of $6.01 and a fifty-two week high of $17.44.

Adicet Bio (NASDAQ:ACET - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($1.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.69) by ($0.30). As a group, equities analysts predict that Adicet Bio will post -6.76 earnings per share for the current fiscal year.

Institutional Trading of Adicet Bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. bought a new position in Adicet Bio during the 4th quarter worth $5,276,000. Two Sigma Investments LP grew its position in shares of Adicet Bio by 66.6% in the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company's stock valued at $692,000 after buying an additional 341,761 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Adicet Bio in the 4th quarter valued at about $2,310,000. Prosight Management LP acquired a new stake in shares of Adicet Bio in the fourth quarter valued at about $2,107,000. Finally, NEXTBio Capital Management LP acquired a new stake in shares of Adicet Bio in the fourth quarter valued at about $1,329,000. 83.89% of the stock is currently owned by institutional investors and hedge funds.

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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