Adicet Bio (NASDAQ:ACET – Get Free Report) posted its earnings results on Wednesday. The company reported ($1.88) EPS for the quarter, topping analysts’ consensus estimates of ($3.08) by $1.20, Zacks reports.
Adicet Bio Price Performance
Shares of ACET stock opened at $7.77 on Thursday. The company has a market cap of $74.53 million, a PE ratio of -0.43 and a beta of 1.50. Adicet Bio has a 1 year low of $6.01 and a 1 year high of $17.44. The stock’s 50 day simple moving average is $7.39 and its two-hundred day simple moving average is $8.27.
Insider Buying and Selling at Adicet Bio
In related news, major shareholder Ra Capital Management, L.P. purchased 74,751 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $7.27 per share, for a total transaction of $543,439.77. Following the acquisition, the insider owned 1,182,624 shares of the company’s stock, valued at approximately $8,597,676.48. This represents a 6.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders purchased 223,596 shares of company stock worth $1,603,934. Insiders own 3.40% of the company’s stock.
Institutional Inflows and Outflows
Analyst Upgrades and Downgrades
ACET has been the topic of several research analyst reports. Guggenheim lowered their price objective on Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Weiss Ratings cut Adicet Bio from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. HC Wainwright cut their target price on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Truist Financial upgraded shares of Adicet Bio to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Jefferies Financial Group assumed coverage on shares of Adicet Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $19.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.80.
View Our Latest Research Report on Adicet Bio
About Adicet Bio
Adicet Bio, Inc (NASDAQ: ACET) is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of γδ T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of γδ T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.
Adicet’s lead product candidate, ADI-001, is a CAR‐engineered allogeneic γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.
Read More
- Five stocks we like better than Adicet Bio
- eVTOL Investing: Ditch the Taxi, Buy the Blueprint
- How Berkshire’s New York Times Bet Looks Today
- Affirm’s Google Deal Aims for Your Wallet
- Airplane Maintenance Companies That Keep Flights Moving Are Ready to Soar
Receive News & Ratings for Adicet Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adicet Bio and related companies with MarketBeat.com's FREE daily email newsletter.
