Adicet Bio (NASDAQ:ACET) Announces Quarterly Earnings Results

Adicet Bio (NASDAQ:ACET) issued its quarterly earnings data on Tuesday. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.03, Yahoo Finance reports.

Adicet Bio Price Performance

Shares of NASDAQ:ACET traded up $0.07 during midday trading on Thursday, hitting $1.44. 129,689 shares of the company’s stock were exchanged, compared to its average volume of 1,377,803. The company has a market cap of $118.32 million, a PE ratio of -0.46 and a beta of 1.80. Adicet Bio has a 12 month low of $1.05 and a 12 month high of $3.77. The stock has a 50 day moving average price of $1.33 and a 200-day moving average price of $1.87.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ACET. StockNews.com upgraded Adicet Bio from a “sell” rating to a “hold” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research report on Tuesday. Canaccord Genuity Group reissued a “buy” rating and set a $19.00 target price on shares of Adicet Bio in a report on Wednesday. Finally, HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Adicet Bio in a research note on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Adicet Bio has an average rating of “Moderate Buy” and a consensus target price of $15.25.

About Adicet Bio

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.