Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 2,990,000 shares, a decline of 18.1% from the November 15th total of 3,650,000 shares. Based on an average trading volume of 576,900 shares, the days-to-cover ratio is currently 5.2 days.
A number of research firms have issued reports on ACET. StockNews.com downgraded shares of Adicet Bio from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. Canaccord Genuity Group lowered their price target on Adicet Bio from $19.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, September 11th. HC Wainwright restated a "neutral" rating on shares of Adicet Bio in a report on Monday, November 18th. Wedbush restated an "outperform" rating and issued a $5.00 target price on shares of Adicet Bio in a research note on Thursday, November 7th. Finally, Guggenheim began coverage on shares of Adicet Bio in a research report on Monday, September 30th. They set a "buy" rating and a $7.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $7.50.
Check Out Our Latest Stock Report on Adicet Bio
Several large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. grew its position in Adicet Bio by 22.9% during the second quarter. American Century Companies Inc. now owns 76,087 shares of the company's stock worth $92,000 after buying an additional 14,196 shares in the last quarter. Point72 DIFC Ltd increased its position in Adicet Bio by 77.5% in the 2nd quarter. Point72 DIFC Ltd now owns 33,441 shares of the company's stock valued at $40,000 after acquiring an additional 14,596 shares during the period. Price T Rowe Associates Inc. MD bought a new position in Adicet Bio during the 1st quarter worth $37,000. GSA Capital Partners LLP raised its position in shares of Adicet Bio by 161.3% during the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company's stock worth $56,000 after acquiring an additional 24,203 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in Adicet Bio by 12.5% during the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company's stock worth $421,000 after purchasing an additional 32,392 shares during the last quarter. Institutional investors own 83.89% of the company's stock.
Shares of NASDAQ ACET opened at $0.96 on Friday. Adicet Bio has a twelve month low of $0.89 and a twelve month high of $3.77. The business's 50 day moving average price is $1.21 and its two-hundred day moving average price is $1.33. The company has a market cap of $79.50 million, a PE ratio of -0.56 and a beta of 1.88.
Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, hitting the consensus estimate of ($0.34). As a group, research analysts anticipate that Adicet Bio will post -1.39 EPS for the current fiscal year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Adicet Bio, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Adicet Bio wasn't on the list.
While Adicet Bio currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.