Adicet Bio, Inc. (NASDAQ:ACET) Short Interest Down 95.7% in December

Adicet Bio, Inc. (NASDAQ:ACET) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 642,724 shares, a decline of 95.7% from the December 15th total of 14,910,583 shares. Currently, 7.0% of the shares of the stock are short sold. Based on an average daily volume of 206,448 shares, the days-to-cover ratio is currently 3.1 days. Based on an average daily volume of 206,448 shares, the days-to-cover ratio is currently 3.1 days. Currently, 7.0% of the shares of the stock are short sold.

Analyst Ratings Changes

Several analysts have weighed in on ACET shares. HC Wainwright upped their target price on Adicet Bio from $64.00 to $144.00 and gave the company a “buy” rating in a report on Friday, November 7th. Guggenheim increased their price objective on shares of Adicet Bio from $112.00 to $128.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a report on Tuesday, October 7th. Canaccord Genuity Group set a $18.00 price target on shares of Adicet Bio and gave the company a “buy” rating in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Adicet Bio currently has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Adicet Bio Price Performance

Adicet Bio stock opened at $8.29 on Wednesday. The stock has a market capitalization of $79.42 million, a P/E ratio of -0.41 and a beta of 1.60. Adicet Bio has a 12-month low of $7.15 and a 12-month high of $17.44. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.62 and a quick ratio of 5.62. The firm’s 50-day moving average is $8.90 and its two-hundred day moving average is $11.16.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($4.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.16) by ($0.48). Equities analysts predict that Adicet Bio will post -1.39 earnings per share for the current year.

Institutional Trading of Adicet Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP acquired a new stake in shares of Adicet Bio in the third quarter valued at about $33,000. Squarepoint Ops LLC purchased a new position in Adicet Bio in the 3rd quarter worth approximately $38,000. Vontobel Holding Ltd. grew its position in Adicet Bio by 33.3% in the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock valued at $49,000 after acquiring an additional 20,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in Adicet Bio in the third quarter valued at approximately $65,000. Finally, Wealthedge Investment Advisors LLC raised its stake in shares of Adicet Bio by 37.4% during the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after purchasing an additional 85,307 shares during the period. 83.89% of the stock is currently owned by institutional investors and hedge funds.

About Adicet Bio

Adicet Bio, Inc (NASDAQ: ACET) is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of γδ T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of γδ T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.

Adicet’s lead product candidate, ADI-001, is a CAR‐engineered allogeneic γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.