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

Adicet Bio, Inc. (NASDAQ:ACET) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,140,000 shares, a drop of 16.9% from the February 13th total of 3,780,000 shares. Currently, 4.7% of the company’s shares are short sold. Based on an average trading volume of 834,000 shares, the short-interest ratio is presently 3.8 days.

Hedge Funds Weigh In On Adicet Bio

Institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in Adicet Bio during the 4th quarter valued at $29,000. GSA Capital Partners LLP lifted its stake in shares of Adicet Bio by 161.3% during the 3rd 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 last quarter. Wealthedge Investment Advisors LLC bought a new stake in Adicet Bio during the fourth quarter valued at about $71,000. JPMorgan Chase & Co. grew its stake in Adicet Bio by 10,321.9% in the third quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock valued at $116,000 after purchasing an additional 79,582 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Adicet Bio by 25.1% in the fourth quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock worth $135,000 after purchasing an additional 28,153 shares in the last quarter. 83.89% of the stock is owned by hedge funds and other institutional investors.

Adicet Bio Stock Down 2.3 %

Shares of NASDAQ ACET opened at $0.78 on Thursday. The business has a fifty day simple moving average of $0.90 and a two-hundred day simple moving average of $1.11. The firm has a market cap of $64.29 million, a PE ratio of -0.45 and a beta of 1.97. Adicet Bio has a twelve month low of $0.74 and a twelve month high of $2.43.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.05. On average, research analysts expect that Adicet Bio will post -1.39 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on ACET shares. HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a research report on Friday, March 7th. JMP Securities restated a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.50.

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.