Weiss Ratings Reiterates Sell (D-) Rating for Adicet Bio (NASDAQ:ACET)

Adicet Bio (NASDAQ:ACET)‘s stock had its “sell (d-)” rating reaffirmed by Weiss Ratings in a research report issued to clients and investors on Thursday,Weiss Ratings reports.

Several other equities research analysts have also recently issued reports on the company. Guggenheim lifted their price objective on Adicet Bio from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. HC Wainwright upgraded Adicet Bio to a “strong-buy” rating and set a $4.00 price objective on the stock in a report on Wednesday, July 23rd. Finally, Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $5.67.

Adicet Bio Stock Down 3.8%

ACET opened at $0.75 on Thursday. The company has a market cap of $62.44 million, a price-to-earnings ratio of -0.57 and a beta of 1.62. Adicet Bio has a 52-week low of $0.45 and a 52-week high of $1.42. The firm’s fifty day simple moving average is $0.84 and its two-hundred day simple moving average is $0.74.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.02). On average, research analysts forecast that Adicet Bio will post -1.39 EPS for the current year.

Institutional Investors Weigh In On Adicet Bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vontobel Holding Ltd. increased its position in Adicet Bio by 33.3% during the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after purchasing an additional 20,000 shares during the last quarter. Wealthedge Investment Advisors LLC lifted its holdings in Adicet Bio by 208.8% in the first quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company’s stock valued at $172,000 after acquiring an additional 154,037 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Adicet Bio by 1.8% in the first quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company’s stock valued at $1,538,000 after acquiring an additional 36,277 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Adicet Bio by 1.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock valued at $2,882,000 after acquiring an additional 63,691 shares during the last quarter. 83.89% of the stock is currently owned by institutional investors and hedge funds.

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.