Adicet Bio, Inc. (NASDAQ:ACET) Short Interest Down 11.0% in September

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 3,720,000 shares, a decrease of 11.0% from the September 15th total of 4,180,000 shares. Based on an average daily trading volume, of 676,900 shares, the short-interest ratio is currently 5.5 days.

Adicet Bio Stock Performance

Shares of ACET traded up $0.02 during mid-day trading on Tuesday, hitting $1.40. The company's stock had a trading volume of 205,035 shares, compared to its average volume of 1,186,536. The firm has a market capitalization of $115.36 million, a PE ratio of -0.55 and a beta of 1.79. Adicet Bio has a one year low of $1.05 and a one year high of $3.77. The stock's 50-day moving average is $1.44 and its two-hundred day moving average is $1.52.

Adicet Bio (NASDAQ:ACET - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.03. Analysts expect that Adicet Bio will post -1.41 EPS for the current fiscal year.

Institutional Trading of Adicet Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Adicet Bio by 85.5% in the first quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company's stock worth $7,347,000 after purchasing an additional 1,441,503 shares during the period. Acadian Asset Management LLC increased its position in Adicet Bio by 205.4% in the second quarter. Acadian Asset Management LLC now owns 1,085,093 shares of the company's stock worth $1,312,000 after purchasing an additional 729,750 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in Adicet Bio in the first quarter worth about $37,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Adicet Bio in the first quarter worth about $28,000. Finally, Cubist Systematic Strategies LLC increased its position in Adicet Bio by 790.1% in the second quarter. Cubist Systematic Strategies LLC now owns 409,049 shares of the company's stock worth $495,000 after purchasing an additional 363,095 shares during the period. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on ACET. Canaccord Genuity Group dropped their price objective on Adicet Bio from $19.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Wedbush restated an "outperform" rating and issued a $5.00 price objective on shares of Adicet Bio in a report on Friday, September 20th. Guggenheim began coverage on Adicet Bio in a report on Monday, September 30th. They issued a "buy" rating and a $7.00 price objective on the stock. StockNews.com upgraded Adicet Bio from a "sell" rating to a "hold" rating in a report on Tuesday, October 8th. Finally, HC Wainwright reiterated a "neutral" rating on shares of Adicet Bio in a report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.