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

StockNews.com upgraded shares of Adicet Bio (NASDAQ:ACET) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

ACET has been the topic of a number of other reports. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research note on Friday, March 7th. JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a 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. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Adicet Bio presently has an average rating of “Moderate Buy” and an average target price of $7.50.

Adicet Bio Stock Performance

ACET stock opened at $0.66 on Monday. Adicet Bio has a fifty-two week low of $0.45 and a fifty-two week high of $1.87. The stock has a fifty day moving average of $0.72 and a 200-day moving average of $0.94. The company has a market capitalization of $54.75 million, a price-to-earnings ratio of -0.39 and a beta of 1.99.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. Equities analysts predict that Adicet Bio will post -1.39 EPS for the current year.

Institutional Investors Weigh In On Adicet Bio

Several hedge funds have recently bought and sold shares of ACET. JPMorgan Chase & Co. lifted its holdings in shares of Adicet Bio by 10,321.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after acquiring an additional 79,582 shares during the last quarter. Geode Capital Management LLC lifted its stake in Adicet Bio by 14.5% during the third quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock worth $1,107,000 after purchasing an additional 97,567 shares during the last quarter. Regeneron Pharmaceuticals Inc. purchased a new position in shares of Adicet Bio in the 4th quarter worth about $931,000. Norges Bank bought a new position in shares of Adicet Bio during the 4th quarter valued at about $413,000. Finally, Virtu Financial LLC bought a new stake in Adicet Bio in the 4th quarter worth approximately $29,000. 83.89% of the stock is currently 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.