Adicet Bio (NASDAQ:ACET) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Adicet Bio (NASDAQ:ACET) announced its quarterly earnings results on Tuesday. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.03, Yahoo Finance reports.

Adicet Bio Trading Up 4.0 %

Shares of NASDAQ:ACET traded up $0.06 during mid-day trading on Thursday, reaching $1.43. The stock had a trading volume of 37,248 shares, compared to its average volume of 1,377,214. The business’s 50 day moving average price is $1.33 and its 200 day moving average price is $1.87. Adicet Bio has a 1 year low of $1.05 and a 1 year high of $3.77. The company has a market cap of $117.09 million, a P/E ratio of -0.46 and a beta of 1.80.

Analyst Ratings Changes

Several brokerages recently weighed in on ACET. Canaccord Genuity Group reissued a “buy” rating and set a $19.00 price target on shares of Adicet Bio in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Adicet Bio in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a research note on Tuesday. Finally, StockNews.com upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Adicet Bio has an average rating of “Moderate Buy” and a consensus price target of $15.25.

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.