Adicet Bio (NASDAQ:ACET) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Adicet Bio (NASDAQ:ACETFree Report) to a sell rating in a research note published on Thursday morning.

Several other research firms have also issued reports on ACET. HC Wainwright lowered their price target on Adicet Bio from $26.00 to $10.00 and set a buy rating for the company in a research report on Friday, February 2nd. Wedbush reaffirmed an outperform rating and issued a $15.00 price target on shares of Adicet Bio in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Adicet Bio has a consensus rating of Hold and a consensus price target of $14.50.

View Our Latest Analysis on Adicet Bio

Adicet Bio Trading Down 8.9 %

Shares of Adicet Bio stock opened at $2.05 on Thursday. The firm has a market capitalization of $143.83 million, a P/E ratio of -0.61 and a beta of 1.87. The business has a fifty day simple moving average of $2.73 and a two-hundred day simple moving average of $1.91. Adicet Bio has a 12 month low of $1.10 and a 12 month high of $7.89.

Insider Buying and Selling

In other Adicet Bio news, Director Orbimed Advisors Llc acquired 3,125,000 shares of Adicet Bio stock in a transaction that occurred on Thursday, January 25th. The stock was bought at an average cost of $2.40 per share, for a total transaction of $7,500,000.00. Following the acquisition, the director now owns 7,526,359 shares of the company’s stock, valued at $18,063,261.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 29.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Adicet Bio

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of 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 acquiring an additional 260,705 shares during the period. State Street Corp grew its stake in shares of Adicet Bio by 311.5% during the 3rd quarter. State Street Corp now owns 1,958,265 shares of the company’s stock valued at $27,847,000 after acquiring an additional 1,482,409 shares during the period. Vanguard Group Inc. grew its stake in shares of Adicet Bio by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 1,685,075 shares of the company’s stock valued at $3,185,000 after acquiring an additional 12,689 shares during the period. Polar Capital Holdings Plc grew its stake in shares of Adicet Bio by 1.1% during the 1st quarter. Polar Capital Holdings Plc now owns 1,543,670 shares of the company’s stock valued at $30,827,000 after acquiring an additional 16,397 shares during the period. Finally, FMR LLC grew its stake in shares of Adicet Bio by 42.3% during the 2nd quarter. FMR LLC now owns 809,129 shares of the company’s stock valued at $11,813,000 after acquiring an additional 240,563 shares during the period. 85.29% of the stock is currently owned by institutional investors.

Adicet Bio Company Profile

(Get Free Report)

Adicet Bio, Inc, a clinical stage 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 chimeric adaptors to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and enhance persistence for durable activity in patients.

Further Reading

Analyst Recommendations for Adicet Bio (NASDAQ:ACET)

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