Adicet Bio (NASDAQ:ACET) Stock Rating Upgraded by Wall Street Zen

by · The Markets Daily

Adicet Bio (NASDAQ:ACET – Get Free Report) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a research note on Tuesday, September 1st. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price target on shares of Adicet Bio in a report on Friday, September 18th. Guggenheim reaffirmed a “buy” rating and set a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.80.

View Our Latest Stock Analysis on ACET

Adicet Bio Price Performance

Shares of Adicet Bio stock opened at $9.02 on Friday. Adicet Bio has a 52-week low of $6.01 and a 52-week high of $17.44. The company has a 50 day moving average of $8.85 and a 200 day moving average of $8.19. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $84.43 million, a P/E ratio of -0.79 and a beta of 1.58.

Adicet Bio (NASDAQ:ACET – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.99) EPS for the quarter, missing the consensus estimate of ($1.69) by ($0.30). As a group, research analysts forecast that Adicet Bio will post -6.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Adicet Bio

A number of large investors have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new stake in shares of Adicet Bio in the second quarter valued at approximately $132,000. AXQ Capital LP acquired a new stake in Adicet Bio in the 2nd quarter valued at about $95,000. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Adicet Bio in the second quarter valued at approximately $522,819. Johnson & Johnson acquired a new stake in Adicet Bio during the 2nd quarter valued at $196,811. Finally, NewEdge Advisors LLC purchased a new stake in Adicet Bio during the 1st quarter worth about $26,000. 83.89% of the stock is owned by hedge funds and other institutional investors.

About Adicet Bio

(Get Free Report)

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. Its platform is based on gamma delta T cells, a type of immune cell that may be engineered to recognize and attack tumor cells while potentially offering advantages associated with off-the-shelf cell therapies.

The company’s pipeline has included investigational CAR T-cell products designed to target specific cancer antigens, including ADI-001, an anti-CD19 therapy developed for B-cell malignancies.

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