StockNews.com Begins Coverage on Adicet Bio (NASDAQ:ACET)

Stock analysts at StockNews.com started coverage on shares of Adicet Bio (NASDAQ:ACET) in a report released on Saturday. The firm set a “sell” rating on the stock.

Several other analysts have also weighed in on ACET. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a report on Friday, March 7th. JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. Finally, Guggenheim reaffirmed a “buy” rating and set a $7.00 target price on shares of Adicet Bio in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.50.

Adicet Bio Trading Down 8.0 %

NASDAQ ACET opened at $0.53 on Friday. Adicet Bio has a 52 week low of $0.45 and a 52 week high of $2.25. The stock has a market cap of $43.48 million, a P/E ratio of -0.31 and a beta of 1.99. The company’s fifty day simple moving average is $0.77 and its 200-day simple moving average is $0.98.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.05. On average, research analysts expect that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Trading of Adicet Bio

Several large investors have recently modified their holdings of the business. Virtu Financial LLC purchased a new stake in shares of Adicet Bio in the 4th quarter worth approximately $29,000. Wealthedge Investment Advisors LLC purchased a new position in shares of Adicet Bio during the 4th quarter valued at about $71,000. JPMorgan Chase & Co. boosted its holdings in Adicet Bio by 10,321.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after buying an additional 79,582 shares during the period. Northern Trust Corp increased its holdings in shares of Adicet Bio by 25.1% in the fourth quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock worth $135,000 after purchasing an additional 28,153 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Adicet Bio during the fourth quarter valued at $177,000. 83.89% of the stock is owned by institutional investors.

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.