Adicet Bio (NASDAQ:ACET) Upgraded at StockNews.com

Adicet Bio (NASDAQ:ACET) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Several other equities research analysts have also commented on the stock. Wedbush reiterated an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a research note on Tuesday, August 13th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $19.00 price target on shares of Adicet Bio in a research report on Wednesday, August 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Adicet Bio in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Adicet Bio Price Performance

Shares of ACET stock opened at $1.46 on Friday. The company has a market cap of $120.30 million, a price-to-earnings ratio of -0.49 and a beta of 1.80. The stock has a 50 day simple moving average of $1.37 and a 200-day simple moving average of $1.74. Adicet Bio has a 1-year low of $1.05 and a 1-year high of $3.77.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.03. Analysts anticipate that Adicet Bio will post -1.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adicet Bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. acquired a new position in shares of Adicet Bio in the 1st quarter valued at about $17,721,000. Vanguard Group Inc. lifted its position in Adicet Bio by 85.5% during the first quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock valued at $7,347,000 after buying an additional 1,441,503 shares in the last quarter. Carlyle Group Inc. grew its stake in Adicet Bio by 39.4% during the first quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock worth $6,900,000 after buying an additional 833,333 shares during the period. Renaissance Technologies LLC increased its position in shares of Adicet Bio by 44.2% in the second quarter. Renaissance Technologies LLC now owns 1,512,600 shares of the company’s stock worth $1,830,000 after acquiring an additional 463,600 shares in the last quarter. Finally, Blackstone Inc. purchased a new position in shares of Adicet Bio in the 1st quarter valued at $2,906,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

About Adicet Bio

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.