Adicet Bio, Inc. (NASDAQ:ACET – Get Rating) was the target of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 2,930,000 shares, a decrease of 7.6% from the April 30th total of 3,170,000 shares. Based on an average daily trading volume, of 471,600 shares, the short-interest ratio is presently 6.2 days. Approximately 9.8% of the company’s shares are sold short.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on ACET shares. JMP Securities reaffirmed a “buy” rating and issued a $19.00 target price on shares of Adicet Bio in a research report on Friday, March 17th. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of Adicet Bio in a research note on Thursday, March 16th. StockNews.com began coverage on shares of Adicet Bio in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $30.00 price target on shares of Adicet Bio in a research note on Thursday, March 16th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, Adicet Bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.40.
Adicet Bio Stock Performance
Shares of ACET opened at $5.62 on Monday. Adicet Bio has a fifty-two week low of $5.13 and a fifty-two week high of $21.87. The stock has a market capitalization of $241.42 million, a PE ratio of -2.22 and a beta of 2.20. The company’s fifty day moving average is $6.06 and its 200 day moving average is $9.14.
Adicet Bio (NASDAQ:ACET – Get Rating) last issued its earnings results on Wednesday, March 15th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.16). As a group, research analysts forecast that Adicet Bio will post -2.18 earnings per share for the current year.
Institutional Trading of Adicet Bio
A number of large investors have recently made changes to their positions in ACET. JPMorgan Chase & Co. increased its holdings in shares of Adicet Bio by 18.1% during the first quarter. JPMorgan Chase & Co. now owns 16,766 shares of the company’s stock valued at $335,000 after acquiring an additional 2,564 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Adicet Bio by 13.8% during the first quarter. Bank of New York Mellon Corp now owns 122,099 shares of the company’s stock valued at $2,438,000 after acquiring an additional 14,799 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Adicet Bio by 55.8% during the first quarter. MetLife Investment Management LLC now owns 12,717 shares of the company’s stock valued at $254,000 after acquiring an additional 4,557 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Adicet Bio by 40.7% during the first quarter. Rhumbline Advisers now owns 31,679 shares of the company’s stock valued at $633,000 after acquiring an additional 9,160 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Adicet Bio by 11.4% during the first quarter. BlackRock Inc. now owns 1,618,107 shares of the company’s stock valued at $32,314,000 after acquiring an additional 165,655 shares in the last quarter.
About Adicet Bio
Adicet Bio, Inc is a clinical stage biotechnology company, which engages in discovering and developing allogeneic gamma delta T cell therapies for cancer. It also focuses on developing a pipeline of “off-the-shelf“ gamma delta T cells. The company was founded by Aya Jakobovits in November 2014 and is headquartered in Boston, MA.