Adicet Bio (NASDAQ:ACET) Downgraded by TheStreet

Posted by on Jun 3rd, 2022

Adicet Bio (NASDAQ:ACET – Get Rating) was downgraded by analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued to investors on Wednesday, TheStreetRatingsTable reports.

A number of other research firms have also recently commented on ACET. Truist Financial started coverage on shares of Adicet Bio in a research note on Tuesday, March 8th. They issued a “buy” rating and a $30.00 target price for the company. Jefferies Financial Group started coverage on shares of Adicet Bio in a research note on Friday, March 4th. They issued a “buy” rating and a $27.00 target price for the company. Sumitomo Mitsui Financial Group started coverage on shares of Adicet Bio in a research note on Thursday, March 31st. They issued an “outperform” rating and a $28.00 target price for the company. JMP Securities reduced their price target on shares of Adicet Bio from $30.00 to $21.00 and set a “market outperform” rating for the company in a research report on Thursday, March 17th. Finally, StockNews.com raised shares of Adicet Bio from a “sell” rating to a “hold” rating in a research report on Tuesday, May 24th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $26.78.

NASDAQ:ACET opened at $11.49 on Wednesday. Adicet Bio has a fifty-two week low of $6.25 and a fifty-two week high of $21.17. The stock has a market capitalization of $459.60 million, a P/E ratio of -9.99 and a beta of 2.61. The company’s 50-day simple moving average is $14.69 and its 200-day simple moving average is $14.02.

Adicet Bio (NASDAQ:ACET – Get Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.17. The business had revenue of $24.99 million for the quarter, compared to analysts’ expectations of $13.74 million. Adicet Bio had a negative net margin of 93.18% and a negative return on equity of 13.61%. Equities analysts expect that Adicet Bio will post -0.78 earnings per share for the current fiscal year.

In other news, SVP Francesco Galimi sold 7,979 shares of Adicet Bio stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $21.00, for a total transaction of $167,559.00. Following the completion of the transaction, the senior vice president now directly owns 59,917 shares of the company’s stock, valued at approximately $1,258,257. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 33.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Abingworth LLP increased its holdings in Adicet Bio by 31.0% in the 4th quarter. Abingworth LLP now owns 2,115,385 shares of the company’s stock worth $36,892,000 after acquiring an additional 500,000 shares in the last quarter. BlackRock Inc. increased its holdings in Adicet Bio by 11.4% in the 1st quarter. BlackRock Inc. now owns 1,618,107 shares of the company’s stock worth $32,314,000 after acquiring an additional 165,655 shares in the last quarter. Polar Capital Holdings Plc increased its holdings in Adicet Bio by 1.1% in the 1st quarter. Polar Capital Holdings Plc now owns 1,543,670 shares of the company’s stock worth $30,827,000 after acquiring an additional 16,397 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Adicet Bio by 4.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,275,000 shares of the company’s stock worth $9,996,000 after acquiring an additional 60,000 shares in the last quarter. Finally, DAFNA Capital Management LLC increased its holdings in Adicet Bio by 94.8% in the 4th quarter. DAFNA Capital Management LLC now owns 733,172 shares of the company’s stock worth $12,823,000 after acquiring an additional 356,891 shares in the last quarter. 76.21% of the stock is owned by institutional investors.

About Adicet Bio (Get Rating)

Adicet Bio, Inc, a biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for cancer and other diseases. The company offers gamma delta T cells engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and enhance persistence for durable activity in patients.

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