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

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a report on Thursday, February 27th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a report on Thursday, November 7th. Finally, StockNews.com downgraded shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.50.

Adicet Bio Stock Performance

Shares of ACET stock opened at $0.85 on Friday. Adicet Bio has a one year low of $0.81 and a one year high of $2.52. The company has a 50 day moving average price of $0.93 and a 200 day moving average price of $1.16. The firm has a market capitalization of $69.71 million, a price-to-earnings ratio of -0.49 and a beta of 1.86.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.05. As a group, equities analysts forecast that Adicet Bio will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in shares of 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 period. Geode Capital Management LLC boosted its stake in Adicet Bio by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock valued at $1,107,000 after acquiring an additional 97,567 shares during the last quarter. GSA Capital Partners LLP boosted its stake in Adicet Bio by 161.3% during the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after acquiring an additional 24,203 shares during the last quarter. FMR LLC boosted its stake in Adicet Bio by 31.3% during the 3rd quarter. FMR LLC now owns 276,169 shares of the company’s stock valued at $398,000 after acquiring an additional 65,903 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in Adicet Bio by 12.5% during the 3rd quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock valued at $421,000 after acquiring an additional 32,392 shares during the last quarter. Institutional investors and hedge funds 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.