Adicet Bio (NASDAQ:ACET – Get Free Report) released its earnings results on Wednesday. The company reported ($1.99) EPS for the quarter, missing the consensus estimate of ($1.69) by ($0.30), FiscalAI reports.
Adicet Bio Trading Down 1.1%
Shares of ACET traded down $0.10 during mid-day trading on Wednesday, reaching $9.11. The company had a trading volume of 43,216 shares, compared to its average volume of 130,012. Adicet Bio has a fifty-two week low of $6.01 and a fifty-two week high of $17.44. The firm has a fifty day simple moving average of $8.36 and a 200-day simple moving average of $7.81. The stock has a market cap of $85.18 million, a price-to-earnings ratio of -0.61 and a beta of 1.60. The company has a current ratio of 7.66, a quick ratio of 7.65 and a debt-to-equity ratio of 0.01.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on ACET. Jefferies Financial Group initiated coverage on Adicet Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $19.00 price target on the stock. Wall Street Zen raised Adicet Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings upgraded Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.80.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACET. Susquehanna International Group LLP acquired a new stake in Adicet Bio during the 3rd quarter worth approximately $33,000. Squarepoint Ops LLC acquired a new stake in shares of Adicet Bio in the third quarter worth $38,000. Luminus Management LLC acquired a new stake in shares of Adicet Bio in the fourth quarter worth $501,000. Burkehill Global Management LP purchased a new position in shares of Adicet Bio in the 4th quarter valued at $526,000. Finally, Virtu Financial LLC acquired a new position in shares of Adicet Bio during the 3rd quarter valued at $65,000. Institutional investors and hedge funds own 83.89% of the company’s stock.
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.
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