Adicet Bio, Inc. (NASDAQ:ACET) Short Interest Down 16.9% in February

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) was the recipient of a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 3,140,000 shares, a decrease of 16.9% from the February 13th total of 3,780,000 shares. Approximately 4.7% of the shares of the stock are short sold. Based on an average trading volume of 834,000 shares, the short-interest ratio is presently 3.8 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wealthedge Investment Advisors LLC acquired a new position in shares of Adicet Bio during the fourth quarter worth $71,000. Squarepoint Ops LLC purchased a new stake in Adicet Bio in the fourth quarter valued at about $177,000. Two Sigma Advisers LP boosted its holdings in Adicet Bio by 12.4% in the fourth quarter. Two Sigma Advisers LP now owns 794,039 shares of the company's stock worth $764,000 after acquiring an additional 87,400 shares in the last quarter. Stonepine Capital Management LLC grew its stake in shares of Adicet Bio by 14.9% during the fourth quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company's stock worth $673,000 after acquiring an additional 90,554 shares during the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in shares of Adicet Bio by 20.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company's stock valued at $988,000 after acquiring an additional 175,000 shares in the last quarter. Hedge funds and other institutional investors own 83.89% of the company's stock.

Adicet Bio Stock Performance

Adicet Bio stock traded up $0.00 during mid-day trading on Friday, reaching $0.77. 178,038 shares of the company were exchanged, compared to its average volume of 806,868. The firm has a market cap of $63.59 million, a P/E ratio of -0.45 and a beta of 1.97. The business has a fifty day moving average of $0.89 and a 200 day moving average of $1.11. Adicet Bio has a 12-month low of $0.74 and a 12-month high of $2.43.

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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 for the quarter, topping analysts' consensus estimates of ($0.37) by $0.05. Sell-side analysts predict that Adicet Bio will post -1.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Guggenheim restated a "buy" rating and issued a $7.00 price target on shares of Adicet Bio in a research note on Friday. HC Wainwright reissued a "neutral" rating on shares of Adicet Bio in a research report on Friday, March 7th. Finally, JMP Securities reissued a "market perform" rating on shares of Adicet Bio in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.