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

Adicet Bio, Inc. (NASDAQ:ACET) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 3,780,000 shares, a growth of 27.3% from the January 31st total of 2,970,000 shares. Based on an average trading volume of 905,100 shares, the days-to-cover ratio is presently 4.2 days.

Analysts Set New Price Targets

Several brokerages recently weighed in on ACET. HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research report on Thursday, February 27th. StockNews.com cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. JMP Securities restated a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Adicet Bio has a consensus rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Stock Up 2.8 %

Shares of ACET opened at $0.87 on Wednesday. The business has a fifty day moving average of $0.93 and a 200 day moving average of $1.16. The company has a market cap of $71.77 million, a PE ratio of -0.51 and a beta of 1.86. Adicet Bio has a 52-week low of $0.81 and a 52-week high of $2.52.

Institutional Investors Weigh In On Adicet Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its stake in shares of Adicet Bio by 10,321.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after purchasing an additional 79,582 shares during the period. Geode Capital Management LLC lifted its stake in Adicet Bio by 14.5% in the third quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock worth $1,107,000 after purchasing an additional 97,567 shares during the last quarter. GSA Capital Partners LLP boosted 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 valued at $56,000 after buying an additional 24,203 shares during the period. FMR LLC grew its stake in shares of Adicet Bio by 31.3% during the third quarter. FMR LLC now owns 276,169 shares of the company’s stock valued at $398,000 after buying an additional 65,903 shares during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Adicet Bio by 12.5% in the third quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock worth $421,000 after buying an additional 32,392 shares during the period. Hedge funds and other institutional investors own 83.89% of the company’s stock.

About Adicet Bio

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.