Adicet Bio (NASDAQ:ACET) Issues Quarterly Earnings Results

Adicet Bio (NASDAQ:ACET) posted its quarterly earnings data on Wednesday. The company reported ($0.34) EPS for the quarter, hitting the consensus estimate of ($0.34), Yahoo Finance reports.

Adicet Bio Stock Up 1.5 %

Shares of ACET stock traded up $0.02 on Thursday, reaching $1.32. The company had a trading volume of 379,773 shares, compared to its average volume of 1,115,965. The stock has a market capitalization of $108.77 million, a PE ratio of -0.51 and a beta of 1.81. Adicet Bio has a one year low of $1.05 and a one year high of $3.77. The business’s 50-day moving average is $1.43 and its 200 day moving average is $1.43.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ACET. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research report on Wednesday, October 16th. Wedbush reiterated an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research report on Friday, September 20th. Guggenheim began coverage on Adicet Bio in a report on Monday, September 30th. They issued a “buy” rating and a $7.00 target price for the company. StockNews.com upgraded Adicet Bio from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, Canaccord Genuity Group dropped their target price on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.