Adicet Bio (NASDAQ:ACET) Downgraded by TheStreet

Adicet Bio (NASDAQ:ACETGet Rating) was downgraded by research analysts at TheStreet from a “c-” rating to a “d+” rating in a report issued on Wednesday, TheStreetRatingsTable reports.

ACET has been the subject of several other reports. StockNews.com raised Adicet Bio from a “sell” rating to a “hold” rating in a report on Tuesday, May 24th. Sumitomo Mitsui Financial Group began coverage on Adicet Bio in a report on Thursday, March 31st. They issued an “outperform” rating and a $28.00 price objective for the company. Jefferies Financial Group began coverage on Adicet Bio in a report on Friday, March 4th. They set a “buy” rating and a $27.00 price target for the company. Truist Financial began coverage on Adicet Bio in a report on Tuesday, March 8th. They set a “buy” rating and a $30.00 price target for the company. Finally, JMP Securities decreased their price target on Adicet Bio from $30.00 to $21.00 and set a “market outperform” rating for the company in a report on Thursday, March 17th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $26.78.

Shares of Adicet Bio stock opened at $11.49 on Wednesday. The firm has a market capitalization of $459.60 million, a P/E ratio of -9.99 and a beta of 2.61. Adicet Bio has a 52 week low of $6.25 and a 52 week high of $21.17. The firm’s 50 day moving average is $14.69 and its two-hundred day moving average is $14.02.

Adicet Bio (NASDAQ:ACETGet Rating) last announced its quarterly earnings results on Thursday, May 12th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.17. The company had revenue of $24.99 million for the quarter, compared to analyst estimates of $13.74 million. Adicet Bio had a negative net margin of 93.18% and a negative return on equity of 13.61%. As a group, sell-side analysts predict that Adicet Bio will post -0.78 earnings per share for the current year.

In related news, SVP Francesco Galimi sold 7,979 shares of Adicet Bio stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $21.00, for a total transaction of $167,559.00. Following the completion of the transaction, the senior vice president now directly owns 59,917 shares in the company, valued at approximately $1,258,257. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 33.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Adicet Bio by 1.1% in the 3rd quarter. BlackRock Inc. now owns 1,248,519 shares of the company’s stock valued at $9,788,000 after acquiring an additional 13,206 shares during the last quarter. Altium Capital Management LP raised its holdings in Adicet Bio by 84.8% in the 4th quarter. Altium Capital Management LP now owns 263,000 shares of the company’s stock valued at $4,600,000 after acquiring an additional 120,711 shares during the last quarter. Golden State Equity Partners raised its holdings in Adicet Bio by 109.3% in the 3rd quarter. Golden State Equity Partners now owns 29,304 shares of the company’s stock valued at $230,000 after acquiring an additional 15,305 shares during the last quarter. Walleye Capital LLC acquired a new position in Adicet Bio in the 4th quarter valued at $3,628,000. Finally, 683 Capital Management LLC raised its holdings in Adicet Bio by 35.8% in the 3rd quarter. 683 Capital Management LLC now owns 265,000 shares of the company’s stock valued at $2,078,000 after acquiring an additional 69,909 shares during the last quarter. Institutional investors own 76.21% of the company’s stock.

Adicet Bio Company Profile (Get Rating)

Adicet Bio, Inc, a biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for cancer and other diseases. The company offers gamma delta T cells engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and enhance persistence for durable activity in patients.

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