Adicet Bio, Inc. (NASDAQ:ACET) Short Interest Up 16.1% in April

Adicet Bio, Inc. (NASDAQ:ACET – Get Rating) saw a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 3,170,000 shares, an increase of 16.1% from the April 15th total of 2,730,000 shares. Based on an average daily trading volume, of 483,100 shares, the days-to-cover ratio is currently 6.6 days. Currently, 11.4% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ACET. StockNews.com assumed coverage on shares of Adicet Bio in a research report on Thursday, March 16th. They set a “sell” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $38.00 price target on shares of Adicet Bio in a report on Thursday, March 16th. Wedbush reiterated an “outperform” rating and issued a $30.00 price target on shares of Adicet Bio in a report on Thursday, March 16th. Finally, JMP Securities reiterated a “buy” rating and issued a $19.00 price target on shares of Adicet Bio in a report on Friday, March 17th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.40.

Insiders Place Their Bets

In other Adicet Bio news, CTO Don Healey sold 4,533 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $7.57, for a total transaction of $34,314.81. Following the completion of the transaction, the chief technology officer now owns 66,568 shares in the company, valued at approximately $503,919.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 29.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Adicet Bio

Large investors have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc grew its stake in Adicet Bio by 11.1% in the 3rd quarter. Ensign Peak Advisors Inc now owns 109,389 shares of the company’s stock valued at $1,556,000 after acquiring an additional 10,970 shares during the last quarter. Annandale Capital LLC acquired a new stake in shares of Adicet Bio during the 3rd quarter worth about $65,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Adicet Bio by 9,188.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,535 shares of the company’s stock worth $661,000 after purchasing an additional 46,034 shares during the last quarter. International Biotechnology Trust PLC acquired a new stake in shares of Adicet Bio during the 3rd quarter worth about $2,195,000. Finally, Cowen AND Company LLC boosted its stake in shares of Adicet Bio by 28.7% during the 4th quarter. Cowen AND Company LLC now owns 3,143,608 shares of the company’s stock worth $28,104,000 after purchasing an additional 700,362 shares during the last quarter.

Adicet Bio Trading Down 4.5 %

Shares of NASDAQ ACET opened at $6.36 on Friday. The stock has a market cap of $273.23 million, a price-to-earnings ratio of -3.72 and a beta of 2.20. Adicet Bio has a 52 week low of $5.13 and a 52 week high of $21.87. The company’s 50-day moving average price is $6.33 and its 200 day moving average price is $10.04.

Adicet Bio (NASDAQ:ACET – Get Rating) last issued its quarterly earnings data on Wednesday, March 15th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.16). As a group, research analysts expect that Adicet Bio will post -3 earnings per share for the current year.

About Adicet Bio

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Adicet Bio, Inc is a clinical stage biotechnology company, which engages in discovering and developing allogeneic gamma delta T cell therapies for cancer. It also focuses on developing a pipeline of “off-the-shelf“ gamma delta T cells. The company was founded by Aya Jakobovits in November 2014 and is headquartered in Boston, MA.