Adicet Bio (NASDAQ:ACET) Posts Quarterly Earnings Results, Meets Expectations

Adicet Bio (NASDAQ:ACET) issued its quarterly earnings data on Wednesday. The company reported ($0.34) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.34), Yahoo Finance reports.

Adicet Bio Trading Up 1.9 %

Shares of NASDAQ ACET traded up $0.03 during mid-day trading on Thursday, reaching $1.33. The company had a trading volume of 424,326 shares, compared to its average volume of 1,116,171. Adicet Bio has a 1-year low of $1.05 and a 1-year high of $3.77. The stock has a market cap of $109.18 million, a PE ratio of -0.52 and a beta of 1.81. The company has a 50-day moving average price of $1.43 and a two-hundred day moving average price of $1.43.

Analyst Upgrades and Downgrades

ACET has been the topic of several recent analyst reports. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research report on Wednesday, October 16th. Canaccord Genuity Group lowered their target price on Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. StockNews.com upgraded Adicet Bio from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Guggenheim initiated coverage on Adicet Bio in a research note on Monday, September 30th. They set a “buy” rating and a $7.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $5.00 target price on shares of Adicet Bio in a research note on Friday, September 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.