Adicet Bio (NASDAQ:ACET) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Adicet Bio (NASDAQ:ACET) from a hold rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group raised shares of Adicet Bio to a “strong-buy” rating in a research report on Tuesday, September 1st. Wedbush reaffirmed an “outperform” rating and issued a $28.00 price target (up from $25.00) on shares of Adicet Bio in a report on Monday, September 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st. Benchmark reiterated a “buy” rating on shares of Adicet Bio in a report on Tuesday, September 29th. Finally, HC Wainwright increased their price objective on Adicet Bio from $27.00 to $34.00 and gave the company a “buy” rating in a report on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.80.

Adicet Bio Stock Performance

ACET stock opened at $4.53 on Friday. The firm has a market cap of $42.40 million, a price-to-earnings ratio of -0.40 and a beta of 1.62. The firm has a 50-day simple moving average of $8.02 and a two-hundred day simple moving average of $8.06. Adicet Bio has a one year low of $4.39 and a one year high of $16.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.71 and a current ratio of 6.71.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.69) by ($0.30). On average, equities analysts forecast that Adicet Bio will post -6.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ACET. NewEdge Advisors LLC acquired a new position in shares of Adicet Bio during the 1st quarter worth approximately $26,000. Dimensional Fund Advisors LP purchased a new position in shares of Adicet Bio during the 1st quarter valued at approximately $73,000. AXQ Capital LP purchased a new position in shares of Adicet Bio during the 2nd quarter valued at approximately $95,000. Squarepoint Ops LLC purchased a new position in shares of Adicet Bio during the 2nd quarter valued at approximately $132,000. Finally, Johnson & Johnson acquired a new stake in Adicet Bio in the 2nd quarter valued at $196,811. Institutional investors and hedge funds own 83.89% of the company’s stock.

Adicet Bio Company Profile

Adicet Bio, Inc is a clinical-stage biotechnology company focused on developing allogeneic, or “off-the-shelf,” T-cell therapies for cancer and autoimmune diseases. The company’s platform uses gamma delta T cells, a distinct type of immune cell that it engineers with chimeric antigen receptors (CARs) to recognize and attack diseased cells.

Adicet’s development programs have included ADI-001, an allogeneic gamma delta CAR T-cell therapy designed to target CD19 on B-cell malignancies, including certain forms of lymphoma.