Adicet Bio (NASDAQ:ACET) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Adicet Bio (NASDAQ:ACET) released its earnings results on Tuesday. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.03, Yahoo Finance reports.

Adicet Bio Trading Up 8.1 %

Shares of ACET stock traded up $0.11 during trading hours on Wednesday, hitting $1.41. The company’s stock had a trading volume of 246,966 shares, compared to its average volume of 1,382,604. The stock has a market cap of $115.45 million, a PE ratio of -0.45 and a beta of 1.80. The company has a 50 day moving average of $1.33 and a 200 day moving average of $1.88. Adicet Bio has a 12-month low of $1.05 and a 12-month high of $3.77.

Analyst Upgrades and Downgrades

ACET has been the topic of a number of research analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $19.00 target price on shares of Adicet Bio in a research note on Wednesday. StockNews.com raised shares of Adicet Bio to a “sell” rating in a research note on Monday, May 20th. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a research report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Adicet Bio in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat.com, Adicet Bio presently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

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.