Adicet Bio (NASDAQ:ACET) Shares Set to Reverse Split on Tuesday, December 30th

Adicet Bio, Inc. (NASDAQ:ACET)’s stock is set to reverse split before the market opens on Tuesday, December 30th. The 1-16 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, December 29th.

Adicet Bio Price Performance

NASDAQ:ACET traded up $0.00 during trading hours on Friday, hitting $0.52. The stock had a trading volume of 2,937,097 shares, compared to its average volume of 2,787,040. The business has a 50 day simple moving average of $0.64 and a two-hundred day simple moving average of $0.71. Adicet Bio has a 1-year low of $0.45 and a 1-year high of $1.11. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.01.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). Analysts expect that Adicet Bio will post -1.39 EPS for the current year.

Analyst Upgrades and Downgrades

ACET has been the subject of several recent analyst reports. Citigroup restated a “market perform” rating on shares of Adicet Bio in a research note on Wednesday, November 19th. HC Wainwright raised their price objective on Adicet Bio from $4.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a report on Tuesday, October 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a research note on Thursday, October 30th. Finally, Wedbush restated an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research note on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Adicet Bio has a consensus rating of “Moderate Buy” and an average target price of $7.33.

Institutional Investors Weigh In On Adicet Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. boosted its holdings in Adicet Bio by 33.3% in the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after purchasing an additional 20,000 shares during the period. Acadian Asset Management LLC lifted its position in shares of Adicet Bio by 1.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company’s stock worth $1,538,000 after buying an additional 36,277 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Adicet Bio in the 3rd quarter valued at about $33,000. Squarepoint Ops LLC bought a new stake in shares of Adicet Bio during the 3rd quarter valued at about $38,000. Finally, Goldman Sachs Group Inc. raised its stake in Adicet Bio by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after acquiring an additional 63,691 shares during the period. 83.89% of the stock is owned by institutional investors and hedge funds.

About Adicet Bio

Adicet Bio, Inc (NASDAQ: ACET) is a clinical?stage biotechnology company specializing in the development of off?the?shelf, allogeneic gamma delta (??) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of ?? T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of ?? T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.

Adicet’s lead product candidate, ADI-001, is a CAR?engineered allogeneic ?? T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.