Adicet Bio (NASDAQ:ACET) Posts Earnings Results, Hits Estimates

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

Adicet Bio Price Performance

ACET opened at $1.31 on Friday. The company has a market capitalization of $107.94 million, a price-to-earnings ratio of -0.77 and a beta of 1.81. The business’s 50-day moving average price is $1.42 and its two-hundred day moving average price is $1.43. Adicet Bio has a 1 year low of $1.05 and a 1 year high of $3.77.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ACET. Canaccord Genuity Group reduced their target price on Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Guggenheim started coverage on shares of Adicet Bio in a research note on Monday, September 30th. They issued a “buy” rating and a $7.00 target price for the company. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research report on Wednesday, October 16th. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a research report on Thursday. Finally, StockNews.com lowered Adicet Bio from a “hold” rating to a “sell” rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Adicet Bio has an average rating of “Hold” and a consensus 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.