Adicet Bio, Inc. (NASDAQ:ACET) Short Interest Update

Adicet Bio, Inc. (NASDAQ:ACETGet Rating) was the recipient of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 2,310,000 shares, an increase of 69.9% from the April 15th total of 1,360,000 shares. Currently, 10.2% of the shares of the stock are sold short. Based on an average trading volume of 391,400 shares, the short-interest ratio is presently 5.9 days.

In other Adicet Bio news, Director Aya Jakobovits sold 4,000 shares of Adicet Bio stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $14.83, for a total transaction of $59,320.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Francesco Galimi sold 7,621 shares of the stock in a transaction on Friday, April 1st. The shares were sold at an average price of $21.00, for a total value of $160,041.00. Following the completion of the sale, the senior vice president now owns 59,917 shares of the company’s stock, valued at approximately $1,258,257. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,600 shares of company stock worth $386,920. 33.90% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Adicet Bio by 69.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,672 shares of the company’s stock valued at $33,000 after buying an additional 685 shares in the last quarter. Citigroup Inc. grew its position in shares of Adicet Bio by 45.2% in the third quarter. Citigroup Inc. now owns 4,243 shares of the company’s stock valued at $33,000 after purchasing an additional 1,320 shares during the last quarter. American International Group Inc. grew its position in shares of Adicet Bio by 15.1% in the first quarter. American International Group Inc. now owns 12,789 shares of the company’s stock valued at $255,000 after purchasing an additional 1,675 shares during the last quarter. Rhumbline Advisers grew its position in shares of Adicet Bio by 8.2% in the fourth quarter. Rhumbline Advisers now owns 22,519 shares of the company’s stock valued at $394,000 after purchasing an additional 1,703 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Adicet Bio by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 26,776 shares of the company’s stock valued at $468,000 after purchasing an additional 1,723 shares during the last quarter. Institutional investors own 76.21% of the company’s stock.

A number of analysts have recently issued reports on the company. JMP Securities reduced their target price on Adicet Bio from $30.00 to $21.00 and set a “market outperform” rating for the company in a report on Thursday, March 17th. Sumitomo Mitsui Financial Group assumed coverage on Adicet Bio in a report on Thursday, March 31st. They issued an “outperform” rating and a $28.00 target price for the company. StockNews.com assumed coverage on Adicet Bio in a report on Thursday, March 31st. They issued a “sell” rating for the company. Jefferies Financial Group assumed coverage on Adicet Bio in a report on Friday, March 4th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Truist Financial started coverage on Adicet Bio in a report on Tuesday, March 8th. They issued a “buy” rating and a $30.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Adicet Bio has an average rating of “Buy” and a consensus price target of $27.58.

Shares of NASDAQ:ACET opened at $11.83 on Friday. Adicet Bio has a 1 year low of $6.25 and a 1 year high of $21.17. The business has a fifty day simple moving average of $15.74 and a 200 day simple moving average of $13.82.

Adicet Bio (NASDAQ:ACETGet Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.28. Analysts anticipate that Adicet Bio will post -1.02 earnings per share for the current year.

About Adicet Bio (Get Rating)

Adicet Bio, Inc, a biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for cancer and other diseases. The company offers gamma delta T cells engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and enhance persistence for durable activity in patients.

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