Short Interest in Adicet Bio, Inc. (NASDAQ:ACET) Rises By 6.1%

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 3,650,000 shares, a growth of 6.1% from the October 31st total of 3,440,000 shares. Based on an average daily trading volume, of 529,000 shares, the days-to-cover ratio is currently 6.9 days.

Adicet Bio Stock Down 1.8 %

Shares of Adicet Bio stock traded down $0.02 on Tuesday, reaching $1.10. The stock had a trading volume of 759,760 shares, compared to its average volume of 1,104,542. The company has a 50 day moving average price of $1.28 and a 200 day moving average price of $1.36. Adicet Bio has a 1 year low of $0.89 and a 1 year high of $3.77. The stock has a market capitalization of $90.64 million, a P/E ratio of -0.64 and a beta of 1.88.

Adicet Bio (NASDAQ:ACET - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.34). On average, analysts forecast that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Adicet Bio

Several large investors have recently bought and sold shares of ACET. American Century Companies Inc. boosted its holdings in shares of Adicet Bio by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 76,087 shares of the company's stock valued at $92,000 after acquiring an additional 14,196 shares during the last quarter. Point72 DIFC Ltd lifted its stake in shares of 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 purchasing an additional 14,596 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of Adicet Bio in the 1st quarter valued at $37,000. GSA Capital Partners LLP lifted its stake in shares of Adicet Bio by 161.3% in the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company's stock valued at $56,000 after purchasing an additional 24,203 shares during the period. Finally, XTX Topco Ltd lifted its stake in shares of Adicet Bio by 12.5% in 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 during the period. Hedge funds and other institutional investors own 83.89% of the company's stock.

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.