Adicet Bio (NASDAQ:ACET) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com started coverage on shares of Adicet Bio (NASDAQ:ACET – Get Rating) in a research report issued on Thursday. The firm set a “sell” rating on the stock.

A number of other research firms also recently commented on ACET. Wedbush raised their price objective on Adicet Bio to $30.00 in a report on Wednesday, November 16th. HC Wainwright raised their price objective on Adicet Bio from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Monday, December 12th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.83.

Adicet Bio Price Performance

Adicet Bio stock opened at $7.71 on Thursday. The stock’s 50-day moving average is $8.23 and its 200-day moving average is $12.71. The company has a market cap of $330.37 million, a price-to-earnings ratio of -5.28 and a beta of 2.35. Adicet Bio has a 12 month low of $6.82 and a 12 month high of $21.87.

Insider Activity at Adicet Bio

In related news, CTO Don Healey sold 10,467 shares of the firm’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $7.98, for a total transaction of $83,526.66. Following the sale, the chief technology officer now directly owns 71,101 shares in the company, valued at approximately $567,385.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 29.20% of the company’s stock.

Institutional Investors Weigh In On Adicet Bio

A number of hedge funds have recently bought and sold shares of the business. RTW Investments LP grew its stake in Adicet Bio by 7.3% during the 3rd quarter. RTW Investments LP now owns 4,241,472 shares of the company’s stock valued at $60,314,000 after purchasing an additional 290,191 shares in the last quarter. EcoR1 Capital LLC acquired a new stake in Adicet Bio during the 4th quarter valued at approximately $31,833,000. Cowen AND Company LLC grew its stake in Adicet Bio by 28.7% during the 4th quarter. Cowen AND Company LLC now owns 3,143,608 shares of the company’s stock valued at $28,104,000 after purchasing an additional 700,362 shares in the last quarter. BlackRock Inc. grew its stake in Adicet Bio by 14.1% during the 3rd quarter. BlackRock Inc. now owns 2,109,787 shares of the company’s stock valued at $30,003,000 after purchasing an additional 260,705 shares in the last quarter. Finally, RA Capital Management L.P. acquired a new position in shares of Adicet Bio in the 3rd quarter worth approximately $29,284,000.

About Adicet Bio

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Adicet Bio, Inc is a biotechnology company, which engages in the design and development of off-the-shelf allogeneic gamma delta T cell therapies for cancer and other diseases. The company was founded by Aya Jakobovits in November 2014 and is headquartered in Boston, MA.