Adicet Bio, Inc. (NASDAQ:ACET) Short Interest Update

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) was the recipient of a significant decline in short interest in 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 daily volume of 576,900 shares, the days-to-cover ratio is presently 5.2 days.

Adicet Bio Trading Down 1.0 %

Adicet Bio stock traded down $0.01 on Friday, reaching $0.96. 699,979 shares of the stock were exchanged, compared to its average volume of 1,086,907. Adicet Bio has a twelve month low of $0.89 and a twelve month high of $3.77. The firm has a fifty day moving average price of $1.21 and a two-hundred day moving average price of $1.33. The stock 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 posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, hitting the consensus estimate of ($0.34). Equities analysts anticipate that Adicet Bio will post -1.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ACET shares. HC Wainwright reaffirmed a "neutral" rating on shares of Adicet Bio in a research report on Monday, November 18th. Canaccord Genuity Group reduced their price objective on shares of Adicet Bio from $19.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. Wedbush reissued an "outperform" rating and set a $5.00 target price on shares of Adicet Bio in a research report on Thursday, November 7th. Guggenheim assumed coverage on Adicet Bio in a research report on Monday, September 30th. They issued a "buy" rating and a $7.00 price target for the company. Finally, StockNews.com lowered Adicet Bio from a "hold" rating to a "sell" rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $7.50.

Institutional Investors Weigh In On Adicet Bio

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. lifted its position in Adicet Bio by 22.9% in the second quarter. American Century Companies Inc. now owns 76,087 shares of the company's stock worth $92,000 after purchasing an additional 14,196 shares during the period. Point72 DIFC Ltd increased its holdings in Adicet Bio by 77.5% in the second quarter. Point72 DIFC Ltd now owns 33,441 shares of the company's stock valued at $40,000 after purchasing an additional 14,596 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in Adicet Bio in the first 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 purchasing an additional 24,203 shares during the period. Finally, XTX Topco Ltd lifted its holdings in shares of Adicet Bio by 12.5% during the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company's stock valued at $421,000 after purchasing an additional 32,392 shares in the last quarter. 83.89% of the stock is 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.