Adicet Bio, Inc. (NASDAQ:ACET – Get Free Report) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 3,140,000 shares, a drop of 16.9% from the February 13th total of 3,780,000 shares. Based on an average daily trading volume, of 834,000 shares, the short-interest ratio is currently 3.8 days. Approximately 4.7% of the company’s shares are sold short.
Adicet Bio Price Performance
Shares of ACET stock opened at $0.78 on Tuesday. The stock has a market cap of $64.28 million, a PE ratio of -0.45 and a beta of 1.97. The stock has a 50-day moving average of $0.90 and a 200-day moving average of $1.12. Adicet Bio has a one year low of $0.74 and a one year high of $2.43.
Adicet Bio (NASDAQ:ACET – Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.05. As a group, research analysts anticipate that Adicet Bio will post -1.39 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Read Our Latest Report on ACET
Institutional Trading of Adicet Bio
Institutional investors and hedge funds have recently modified their holdings of the stock. Regeneron Pharmaceuticals Inc. acquired a new position in shares of Adicet Bio in the 4th quarter valued at approximately $931,000. Norges Bank acquired a new position in shares of Adicet Bio in the 4th quarter valued at approximately $413,000. RBF Capital LLC grew its position in shares of Adicet Bio by 62.5% in the 3rd quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock valued at $866,000 after purchasing an additional 231,135 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Adicet Bio in the 4th quarter valued at approximately $177,000. Finally, Bridgeway Capital Management LLC grew its position in shares of Adicet Bio by 20.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock valued at $988,000 after purchasing an additional 175,000 shares during the period. 83.89% of the stock is owned by institutional investors.
Adicet Bio Company Profile
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.
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