Wall Street Zen Downgrades Adicet Bio (NASDAQ:ACET) to Sell

Adicet Bio (NASDAQ:ACET) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Other equities analysts have also issued research reports about the company. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price target (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Jefferies Financial Group began coverage on shares of Adicet Bio in a research report on Tuesday, May 5th. They set a “buy” rating and a $19.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Adicet Bio has an average rating of “Moderate Buy” and a consensus target price of $46.80.

Adicet Bio Stock Performance

Adicet Bio stock opened at $9.06 on Friday. Adicet Bio has a twelve month low of $6.01 and a twelve month high of $17.44. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $84.80 million, a P/E ratio of -0.79 and a beta of 1.60. The stock’s 50 day moving average is $8.62 and its 200 day moving average is $7.91.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.30). On average, equities research 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 modified their holdings of the business. NewEdge Advisors LLC purchased a new position in shares of Adicet Bio in the first quarter worth $26,000. Susquehanna International Group LLP purchased a new stake in shares of Adicet Bio during the third quarter valued at $33,000. Squarepoint Ops LLC purchased a new stake in shares of Adicet Bio during the third quarter valued at $38,000. Virtu Financial LLC bought a new stake in Adicet Bio in the 3rd quarter worth about $65,000. Finally, Dimensional Fund Advisors LP bought a new stake in Adicet Bio in the 1st quarter worth about $73,000. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Company Profile

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.