Adicet Bio (NASDAQ:ACET) Stock Rating Raised to “Hold” at Wall Street Zen

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

Several other analysts also recently commented on ACET. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price target (down from $100.00) on shares of Adicet Bio in a research note on Thursday, August 6th. HC Wainwright reaffirmed a “buy” rating and issued a $27.00 target price on shares of Adicet Bio in a research report on Friday, September 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research report on Friday, August 21st. Finally, Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a report on Tuesday, September 1st. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.80.

Adicet Bio Trading Up 9.1%

ACET opened at $9.02 on Friday. The firm’s fifty day moving average is $8.85 and its two-hundred day moving average is $8.18. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.71 and a current ratio of 6.71. The firm has a market cap of $84.43 million, a PE ratio of -0.79 and a beta of 1.58. Adicet Bio has a twelve month low of $6.01 and a twelve month high of $17.44.

Adicet Bio (NASDAQ:ACET) last announced 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). Equities research analysts anticipate that Adicet Bio will post -6.76 EPS for the current year.

Hedge Funds Weigh In On Adicet Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ACET. NewEdge Advisors LLC bought a new stake in Adicet Bio during the first quarter worth $26,000. Dimensional Fund Advisors LP acquired a new stake in shares of Adicet Bio in the first quarter valued at about $73,000. AXQ Capital LP acquired a new position in shares of Adicet Bio in the second quarter worth approximately $95,000. Squarepoint Ops LLC acquired a new position in shares of Adicet Bio in the 2nd quarter worth approximately $132,000. Finally, Johnson & Johnson bought a new stake in Adicet Bio during the second quarter valued at $196,811. 83.89% of the stock is owned by institutional investors and hedge funds.

About Adicet Bio

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.