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

Adicet Bio, Inc. (NASDAQ:ACET) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 14,910,583 shares, a growth of 40.3% from the November 30th total of 10,629,486 shares. Approximately 10.2% of the shares of the company are sold short. Based on an average daily volume of 2,860,587 shares, the short-interest ratio is currently 5.2 days. Based on an average daily volume of 2,860,587 shares, the short-interest ratio is currently 5.2 days. Approximately 10.2% of the shares of the company are sold short.

Adicet Bio Price Performance

NASDAQ ACET opened at $8.42 on Thursday. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.01. Adicet Bio has a 12 month low of $7.15 and a 12 month high of $17.76. The stock has a market cap of $80.66 million, a price-to-earnings ratio of -0.42 and a beta of 1.61. The company’s 50 day moving average is $9.73 and its two-hundred day moving average is $11.31.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($4.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.16) by ($0.48). As a group, research analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on ACET shares. Citigroup reaffirmed a “market perform” rating on shares of Adicet Bio in a research report on Wednesday, November 19th. Guggenheim upped their target price on shares of Adicet Bio from $112.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. HC Wainwright increased their price target on shares of Adicet Bio from $64.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a research note on Thursday, October 30th. Finally, Wedbush reissued an “outperform” rating and set a $80.00 price objective on shares of Adicet Bio in a research report on Thursday, November 6th. One equities 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $117.33.

Institutional Investors Weigh In On Adicet Bio

A number of institutional investors and hedge funds have recently bought and sold shares of ACET. Vontobel Holding Ltd. boosted its stake in shares of 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 acquiring an additional 20,000 shares during the period. Acadian Asset Management LLC raised its stake in Adicet Bio by 1.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company’s stock valued at $1,538,000 after purchasing an additional 36,277 shares during the period. Susquehanna International Group LLP purchased a new position in Adicet Bio in the 3rd quarter worth approximately $33,000. Squarepoint Ops LLC bought a new position in Adicet Bio in the 3rd quarter worth approximately $38,000. Finally, Goldman Sachs Group Inc. boosted its stake in Adicet Bio by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after purchasing an additional 63,691 shares during the period. 83.89% of the stock is owned by institutional investors.

Adicet Bio Company Profile

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.