Adicet Bio (NASDAQ:ACET) Issues Earnings Results

Adicet Bio (NASDAQ:ACET) released its earnings results on Thursday. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.05, Zacks reports.

Adicet Bio Stock Down 3.3 %

Shares of Adicet Bio stock traded down $0.03 during trading hours on Thursday, reaching $0.85. 555,725 shares of the stock traded hands, compared to its average volume of 993,911. The company has a 50 day moving average price of $0.93 and a 200 day moving average price of $1.16. Adicet Bio has a one year low of $0.81 and a one year high of $2.52. The firm has a market capitalization of $69.71 million, a price-to-earnings ratio of -0.49 and a beta of 1.86.

Analysts Set New Price Targets

Several analysts have commented on ACET shares. JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a research note on Thursday, February 6th. Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a report on Thursday, November 7th. StockNews.com lowered Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Company Profile

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.