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

Adicet Bio, Inc. (NASDAQ:ACET) was the target of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 642,724 shares, a decrease of 95.7% from the December 15th total of 14,910,583 shares. Approximately 7.0% of the company’s shares are sold short. Based on an average daily trading volume, of 206,448 shares, the short-interest ratio is presently 3.1 days. Based on an average daily trading volume, of 206,448 shares, the short-interest ratio is presently 3.1 days. Approximately 7.0% of the company’s shares are sold short.

Adicet Bio Stock Down 2.7%

Adicet Bio stock traded down $0.22 during trading on Monday, reaching $7.81. 190,077 shares of the company’s stock were exchanged, compared to its average volume of 207,409. The company’s 50-day moving average is $9.03 and its two-hundred day moving average is $11.19. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.62 and a current ratio of 5.62. Adicet Bio has a 52-week low of $7.15 and a 52-week high of $17.44. The firm has a market cap of $74.82 million, a price-to-earnings ratio of -0.39 and a beta of 1.60.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($4.64) EPS for the quarter, missing analysts’ consensus estimates of ($4.16) by ($0.48). On average, analysts predict that Adicet Bio will post -1.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Jefferies Financial Group raised Adicet Bio to a “strong-buy” rating in a research note on Tuesday, October 7th. HC Wainwright raised their target price 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 restated a “sell (d-)” rating on shares of Adicet Bio in a report on Thursday, October 30th. Canaccord Genuity Group set a $18.00 price target on shares of Adicet Bio and gave the stock a “buy” rating in a research note on Tuesday, January 6th. Finally, Citigroup reissued a “market perform” rating on shares of Adicet Bio in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Adicet Bio presently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Susquehanna International Group LLP acquired a new stake in shares of Adicet Bio during the third quarter worth approximately $33,000. Citadel Advisors LLC boosted its stake in Adicet Bio by 19.8% during the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock valued at $473,000 after acquiring an additional 96,342 shares during the last quarter. Virtu Financial LLC acquired a new position in Adicet Bio during the 3rd quarter worth $65,000. Two Sigma Investments LP increased its position in shares of Adicet Bio by 66.6% in the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock worth $692,000 after purchasing an additional 341,761 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Adicet Bio in the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

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 (γδ) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of γδ 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 γδ 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 γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.