Adicet Bio (NASDAQ:ACET) Issues Earnings Results, Hits Estimates

Adicet Bio (NASDAQ:ACET) released its quarterly earnings results on Wednesday. The company reported ($0.34) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.34), Yahoo Finance reports.

Adicet Bio Trading Up 1.9 %

NASDAQ ACET traded up $0.03 during trading hours on Thursday, hitting $1.33. 422,727 shares of the company’s stock traded hands, compared to its average volume of 1,116,096. Adicet Bio has a 52 week low of $1.05 and a 52 week high of $3.77. The firm has a market capitalization of $109.18 million, a P/E ratio of -0.52 and a beta of 1.81. The business’s fifty day moving average price is $1.43 and its two-hundred day moving average price is $1.43.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ACET. Wedbush reissued an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research note on Friday, September 20th. Canaccord Genuity Group dropped their price objective on Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. StockNews.com raised Adicet Bio from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Guggenheim initiated coverage on shares of Adicet Bio in a research note on Monday, September 30th. They issued a “buy” rating and a $7.00 price target for the company. Finally, HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Adicet Bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

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.