Adicet Bio (NASDAQ:ACET) Issues Quarterly Earnings Results

Adicet Bio (NASDAQ:ACET) released its earnings results on Thursday. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.20), FiscalAI reports.

Adicet Bio Price Performance

Shares of NASDAQ:ACET traded down $0.18 during trading on Thursday, hitting $2.92. 420,202 shares of the company were exchanged, compared to its average volume of 154,046. Adicet Bio has a 1-year low of $2.87 and a 1-year high of $11.37. The company has a market capitalization of $27.33 million, a P/E ratio of -0.26 and a beta of 1.69. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $6.79 and its 200-day moving average is $7.62.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Benchmark reiterated a “buy” rating on shares of Adicet Bio in a research note on Tuesday, September 29th. HC Wainwright upped their price objective on Adicet Bio from $27.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Guggenheim reaffirmed a “buy” rating and issued a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a research note on Thursday, August 6th. Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a research report on Tuesday, September 1st. Finally, Wall Street Zen cut Adicet Bio from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.80.

About Adicet Bio

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. The company’s platform is focused on genetically engineered gamma delta T cells, an immune-cell type that can recognize and attack abnormal cells while potentially offering advantages for off-the-shelf cell therapy development.

Adicet’s product candidates are designed to incorporate chimeric antigen receptors and other modifications intended to improve tumor targeting, persistence, and activity.