Adicet Bio (NASDAQ:ACET) Lifted to Sell at StockNews.com

StockNews.com upgraded shares of Adicet Bio (NASDAQ:ACET) to a sell rating in a research note issued to investors on Monday.

Several other equities research analysts have also recently weighed in on ACET. Canaccord Genuity Group reaffirmed a buy rating and issued a $19.00 price target on shares of Adicet Bio in a research note on Wednesday, March 20th. HC Wainwright reaffirmed a buy rating and set a $10.00 price target on shares of Adicet Bio in a report on Wednesday, May 15th. Finally, Wedbush reaffirmed an outperform rating and set a $5.00 price target on shares of Adicet Bio in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $12.83.

Adicet Bio Stock Down 6.1 %

Shares of Adicet Bio stock opened at $1.53 on Monday. The company has a market cap of $125.73 million, a PE ratio of -0.52 and a beta of 1.94. The business has a 50 day moving average of $1.92 and a 200 day moving average of $2.05. Adicet Bio has a 52 week low of $1.10 and a 52 week high of $6.15.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings results on Tuesday, March 19th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.03. On average, research analysts anticipate that Adicet Bio will post -1.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Adicet Bio in the first quarter worth about $28,000. Price T Rowe Associates Inc. MD bought a new position in shares of Adicet Bio in the first quarter worth about $37,000. American International Group Inc. raised its stake in shares of Adicet Bio by 74.2% in the first quarter. American International Group Inc. now owns 26,319 shares of the company’s stock worth $62,000 after buying an additional 11,214 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of Adicet Bio during the first quarter worth about $90,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Adicet Bio during the fourth quarter worth about $98,000. Institutional investors own 83.89% of the company’s stock.

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.