Adicet Bio (NASDAQ:ACET) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Adicet Bio (NASDAQ:ACET – Get Rating) in a research note issued to investors on Thursday morning. The brokerage issued a sell rating on the stock.

A number of other research firms have also recently issued reports on ACET. HC Wainwright raised their price objective on Adicet Bio from $34.00 to $38.00 and gave the company a buy rating in a research report on Monday, December 12th. Wedbush lifted their price objective on Adicet Bio to $30.00 in a report on Wednesday, November 16th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $27.50.

Adicet Bio Price Performance

NASDAQ ACET opened at $7.43 on Thursday. The firm has a market cap of $318.38 million, a P/E ratio of -4.35 and a beta of 2.35. The stock’s 50-day moving average is $8.20 and its 200-day moving average is $12.62. Adicet Bio has a one year low of $6.82 and a one year high of $21.87.

Insider Buying and Selling

In other Adicet Bio news, CTO Don Healey sold 4,533 shares of the company’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $7.57, for a total value of $34,314.81. Following the sale, the chief technology officer now owns 66,568 shares in the company, valued at approximately $503,919.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 29.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Adicet Bio by 328.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,161 shares of the company’s stock worth $64,000 after buying an additional 5,489 shares during the period. Annandale Capital LLC acquired a new position in Adicet Bio during the 3rd quarter worth approximately $65,000. Lazard Asset Management LLC bought a new stake in Adicet Bio during the 2nd quarter worth approximately $82,000. Legal & General Group Plc increased its holdings in Adicet Bio by 204.5% during the 2nd quarter. Legal & General Group Plc now owns 6,358 shares of the company’s stock worth $93,000 after purchasing an additional 4,270 shares in the last quarter. Finally, Alpine Global Management LLC bought a new stake in Adicet Bio during the 4th quarter worth approximately $109,000.

About Adicet Bio

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Adicet Bio, Inc is a biotechnology company, which engages in the design and development of off-the-shelf allogeneic gamma delta T cell therapies for cancer and other diseases. The company was founded by Aya Jakobovits in November 2014 and is headquartered in Boston, MA.