Adicet Bio, Inc. (NASDAQ:ACET) Short Interest Down 16.9% in February

Adicet Bio, Inc. (NASDAQ:ACET) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 3,140,000 shares, a decline 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 daily volume of 834,000 shares, the short-interest ratio is presently 3.8 days.

Adicet Bio Price Performance

Adicet Bio stock opened at $0.80 on Wednesday. The stock has a market cap of $65.77 million, a price-to-earnings ratio of -0.47 and a beta of 1.97. The firm has a 50-day moving average of $0.90 and a two-hundred day moving average of $1.11. Adicet Bio has a 1 year low of $0.74 and a 1 year high of $2.43.

Adicet Bio (NASDAQ:ACET) last announced 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. Research analysts expect that Adicet Bio will post -1.39 earnings per share for the current year.

Institutional Trading of Adicet Bio

Several institutional investors and hedge funds have recently made changes to their positions in the company. Regeneron Pharmaceuticals Inc. bought a new position in Adicet Bio during the 4th quarter worth about $931,000. Norges Bank bought a new position in shares of Adicet Bio during the fourth quarter valued at approximately $413,000. RBF Capital LLC increased its holdings in Adicet Bio by 62.5% during the third quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock valued at $866,000 after buying an additional 231,135 shares during the period. Squarepoint Ops LLC bought a new position in Adicet Bio in the fourth quarter worth approximately $177,000. Finally, Bridgeway Capital Management LLC lifted its holdings in Adicet Bio by 20.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock worth $988,000 after buying an additional 175,000 shares during the period. 83.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a report on Friday, March 7th. Finally, StockNews.com lowered Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” 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.