Adicet Bio, Inc. (NASDAQ:ACET) Sees Large Increase in Short Interest

Adicet Bio, Inc. (NASDAQ:ACETGet Free Report) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 3,350,000 shares, an increase of 12.0% from the November 30th total of 2,990,000 shares. Based on an average daily volume of 598,300 shares, the days-to-cover ratio is currently 5.6 days.

Institutional Trading of Adicet Bio

A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Adicet Bio by 10,321.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after purchasing an additional 79,582 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Adicet Bio by 14.5% in the 3rd quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock valued at $1,107,000 after buying an additional 97,567 shares during the period. XTX Topco Ltd grew its position in shares of Adicet Bio by 12.5% during the third quarter. XTX Topco Ltd now owns 292,180 shares of the company’s stock worth $421,000 after buying an additional 32,392 shares in the last quarter. RBF Capital LLC grew its position in shares of Adicet Bio by 62.5% during the third quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock worth $866,000 after buying an additional 231,135 shares in the last quarter. Finally, FMR LLC raised its holdings in Adicet Bio by 31.3% in the third quarter. FMR LLC now owns 276,169 shares of the company’s stock valued at $398,000 after acquiring an additional 65,903 shares in the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a research report on Thursday, November 7th. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research report on Thursday, December 19th. Canaccord Genuity Group lowered their price objective on Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Guggenheim assumed coverage on Adicet Bio in a research note on Monday, September 30th. They set a “buy” rating and a $7.00 target price for the company. Finally, StockNews.com lowered Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.50.

Check Out Our Latest Research Report on Adicet Bio

Adicet Bio Price Performance

Shares of Adicet Bio stock opened at $0.93 on Monday. The stock has a market capitalization of $76.27 million, a price-to-earnings ratio of -0.54 and a beta of 1.88. The business has a 50-day moving average of $1.11 and a 200 day moving average of $1.30. Adicet Bio has a 12 month low of $0.81 and a 12 month high of $3.77.

Adicet Bio (NASDAQ:ACETGet Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.34). Equities research analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current year.

Adicet Bio Company Profile

(Get Free Report)

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.

Further Reading

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