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

Adicet Bio, Inc. (NASDAQ:ACET – Get Rating) was the recipient of a large decline in short interest in December. As of December 30th, there was short interest totalling 3,820,000 shares, a decline of 6.8% from the December 15th total of 4,100,000 shares. Approximately 13.1% of the company’s stock are short sold. Based on an average daily trading volume, of 743,700 shares, the days-to-cover ratio is currently 5.1 days.

Adicet Bio Stock Up 6.5 %

Shares of NASDAQ:ACET opened at $8.84 on Friday. The company’s 50 day moving average price is $12.52 and its two-hundred day moving average price is $14.92. Adicet Bio has a 12-month low of $7.42 and a 12-month high of $21.87. The firm has a market cap of $378.80 million, a PE ratio of -6.05 and a beta of 2.29.

Adicet Bio (NASDAQ:ACET – Get Rating) last announced its earnings results on Tuesday, November 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.03. On average, research analysts expect that Adicet Bio will post -1.54 EPS for the current year.

Insiders Place Their Bets

In other news, insider Blake Aftab sold 6,967 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $21.00, for a total value of $146,307.00. Following the sale, the insider now directly owns 28,209 shares of the company’s stock, valued at approximately $592,389. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Chen Schor sold 9,955 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $21.03, for a total value of $209,353.65. Following the sale, the chief executive officer now directly owns 91,469 shares of the company’s stock, valued at approximately $1,923,593.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Blake Aftab sold 6,967 shares of the company’s stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $21.00, for a total transaction of $146,307.00. Following the completion of the sale, the insider now directly owns 28,209 shares in the company, valued at $592,389. The disclosure for this sale can be found here. Insiders have sold 17,422 shares of company stock valued at $364,661 in the last three months. 29.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Adicet Bio

Large investors have recently made changes to their positions in the company. Amalgamated Bank acquired a new stake in shares of Adicet Bio during the 1st quarter worth approximately $51,000. Annandale Capital LLC acquired a new stake in shares of Adicet Bio during the 3rd quarter worth approximately $65,000. Lazard Asset Management LLC acquired a new stake in shares of Adicet Bio during the 2nd quarter worth approximately $82,000. Legal & General Group Plc boosted its position in shares of Adicet Bio by 204.5% during the 2nd quarter. Legal & General Group Plc now owns 6,358 shares of the company’s stock worth $93,000 after acquiring an additional 4,270 shares in the last quarter. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Adicet Bio during the 2nd quarter worth approximately $153,000.

Wall Street Analyst Weigh In

Several research firms have weighed in on ACET. HC Wainwright increased their price target on shares of Adicet Bio from $34.00 to $38.00 and gave the company a “buy” rating in a report on Monday, December 12th. Wedbush increased their price target on shares of Adicet Bio to $30.00 in a report on Wednesday, November 16th. Finally, StockNews.com began coverage on shares of Adicet Bio in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.71.

About Adicet Bio

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Adicet Bio, Inc is a biotechnology company, which engages in the design and development of off-the-shelf allogeneic gamma delta T cell therapies for cancer and other diseases. The company was founded by Aya Jakobovits in November 2014 and is headquartered in Boston, MA.