Adicet Bio, Inc. (NASDAQ:ACET) Sees Large Growth in Short Interest

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) was the target of a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 3,780,000 shares, a growth of 27.3% from the January 31st total of 2,970,000 shares. Based on an average daily trading volume, of 905,100 shares, the short-interest ratio is currently 4.2 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. GSA Capital Partners LLP lifted its holdings in Adicet Bio by 161.3% in the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company's stock worth $56,000 after purchasing an additional 24,203 shares during the period. Northern Trust Corp lifted its stake in shares of Adicet Bio by 25.1% in the 4th quarter. Northern Trust Corp now owns 140,369 shares of the company's stock worth $135,000 after acquiring an additional 28,153 shares during the period. Virtu Financial LLC bought a new position in shares of Adicet Bio in the fourth quarter valued at approximately $29,000. XTX Topco Ltd increased its stake in shares of Adicet Bio by 12.5% during the third quarter. XTX Topco Ltd now owns 292,180 shares of the company's stock valued at $421,000 after acquiring an additional 32,392 shares during the period. Finally, FMR LLC raised its holdings in Adicet Bio by 31.3% during the third quarter. FMR LLC now owns 276,169 shares of the company's stock worth $398,000 after purchasing an additional 65,903 shares in the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

Adicet Bio Stock Down 5.9 %

NASDAQ ACET traded down $0.05 on Friday, hitting $0.80. The stock had a trading volume of 437,169 shares, compared to its average volume of 982,729. The company's 50-day moving average is $0.93 and its two-hundred day moving average is $1.16. Adicet Bio has a one year low of $0.79 and a one year high of $2.52. The stock has a market cap of $65.60 million, a price-to-earnings ratio of -0.47 and a beta of 1.86.

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Adicet Bio (NASDAQ:ACET - Get Free Report) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.05. On average, sell-side analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ACET shares. HC Wainwright reiterated a "neutral" rating on shares of Adicet Bio in a research note on Friday. StockNews.com cut Adicet Bio from a "hold" rating to a "sell" rating in a research report on Tuesday, November 19th. Finally, JMP Securities restated a "market perform" rating on shares of Adicet Bio in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $7.50.

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.