Adicet Bio, Inc. (NASDAQ:ACET) Short Interest Update
by Renee Jackson · The Cerbat GemAdicet Bio, Inc. (NASDAQ:ACET – Get Free Report) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 642,724 shares, a decrease of 95.7% from the December 15th total of 14,910,583 shares. Based on an average daily trading volume, of 206,448 shares, the days-to-cover ratio is presently 3.1 days. Currently, 7.0% of the company’s stock are sold short. Currently, 7.0% of the company’s stock are sold short. Based on an average daily trading volume, of 206,448 shares, the days-to-cover ratio is presently 3.1 days.
Institutional Trading of Adicet Bio
A number of institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in shares of Adicet Bio by 1.8% in the first quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company’s stock worth $1,538,000 after buying an additional 36,277 shares during the period. Vontobel Holding Ltd. raised its holdings in shares of Adicet Bio by 33.3% during the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after acquiring an additional 20,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Adicet Bio by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock valued at $2,882,000 after buying an additional 63,691 shares during the last quarter. Wealthedge Investment Advisors LLC lifted its stake in Adicet Bio by 37.4% in the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after acquiring an additional 85,307 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of Adicet Bio in the 3rd quarter valued at $33,000. 83.89% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ACET has been the subject of several research reports. HC Wainwright lifted their target price on Adicet Bio from $64.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Guggenheim raised their price objective on Adicet Bio from $112.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Adicet Bio in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group set a $18.00 price target on shares of Adicet Bio and gave the company a “buy” rating in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.
Read Our Latest Stock Analysis on Adicet Bio
Adicet Bio Stock Performance
Adicet Bio stock traded down $0.22 during mid-day trading on Monday, hitting $7.81. 190,077 shares of the company’s stock traded hands, compared to its average volume of 207,409. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.01. Adicet Bio has a one year low of $7.15 and a one year high of $17.44. The firm has a 50 day moving average price of $9.03 and a 200 day moving average price of $11.19. The company has a market cap of $74.82 million, a PE ratio of -0.39 and a beta of 1.60.
Adicet Bio (NASDAQ:ACET – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($4.64) EPS for the quarter, missing analysts’ consensus estimates of ($4.16) by ($0.48). On average, equities analysts forecast that Adicet Bio will post -1.39 EPS for the current year.
Adicet Bio Company Profile
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.