Adicet Bio (NASDAQ:ACET) Raised to “Hold” at StockNews.com

Adicet Bio (NASDAQ:ACET) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

A number of other research firms have also weighed in on ACET. Guggenheim reiterated a “buy” rating and issued a $7.00 price objective on shares of Adicet Bio in a research note on Friday, March 21st. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a report on Friday, March 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $7.50.

Adicet Bio Trading Up 0.4 %

Shares of Adicet Bio stock opened at $0.62 on Monday. The firm’s 50 day simple moving average is $0.72 and its two-hundred day simple moving average is $0.94. The firm has a market capitalization of $51.45 million, a price-to-earnings ratio of -0.36 and a beta of 1.99. Adicet Bio has a 12-month low of $0.45 and a 12-month high of $1.87.

Adicet Bio (NASDAQ:ACET) last issued its earnings results on Thursday, March 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05. On average, sell-side analysts predict that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Wealthedge Investment Advisors LLC acquired a new position in Adicet Bio during the fourth quarter worth $71,000. Squarepoint Ops LLC purchased a new position in Adicet Bio in the 4th quarter valued at about $177,000. Two Sigma Advisers LP boosted its holdings in Adicet Bio by 12.4% in the 4th quarter. Two Sigma Advisers LP now owns 794,039 shares of the company’s stock worth $764,000 after buying an additional 87,400 shares during the last quarter. Stonepine Capital Management LLC raised its holdings in shares of Adicet Bio by 14.9% during the fourth quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock valued at $673,000 after acquiring an additional 90,554 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in shares of Adicet Bio by 20.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock valued at $988,000 after acquiring an additional 175,000 shares in the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

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.