Adicet Bio (NASDAQ:ACET) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Adicet Bio (NASDAQ:ACET) from a sell rating to a hold rating in a report published on Monday.

Several other research firms also recently commented 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 reaffirmed a “neutral” rating on shares of Adicet Bio in a report on Friday, March 7th. Finally, JMP Securities restated a “market perform” rating on shares of Adicet Bio in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Adicet Bio Price Performance

ACET opened at $0.62 on Monday. The firm’s fifty day moving average price is $0.73 and its two-hundred day moving average price is $0.95. Adicet Bio has a 1 year low of $0.45 and a 1 year high of $1.87. The company has a market capitalization of $51.27 million, a price-to-earnings ratio of -0.36 and a beta of 1.99.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.05. As a group, equities analysts anticipate that Adicet Bio will post -1.39 EPS for the current year.

Institutional Investors Weigh In On Adicet Bio

Large investors have recently added to or reduced their stakes in the business. Bridgeway Capital Management LLC increased its stake in 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 during the last quarter. Regeneron Pharmaceuticals Inc. bought a new stake in Adicet Bio in the fourth quarter worth $931,000. Two Sigma Advisers LP boosted its position in Adicet Bio by 12.4% during the fourth quarter. Two Sigma Advisers LP now owns 794,039 shares of the company’s stock valued at $764,000 after buying an additional 87,400 shares during the period. Geode Capital Management LLC grew its stake in shares of Adicet Bio by 14.5% during the third quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock valued at $1,107,000 after buying an additional 97,567 shares during the last quarter. Finally, Stonepine Capital Management LLC increased its holdings in shares of Adicet Bio by 14.9% in the fourth quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock worth $673,000 after buying an additional 90,554 shares during the period. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Company Profile

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.