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

Adicet Bio (NASDAQ:ACET) posted its earnings results on Wednesday. The company reported ($0.34) EPS for the quarter, meeting analysts’ consensus estimates of ($0.34), Yahoo Finance reports.

Adicet Bio Price Performance

Adicet Bio stock traded up $0.02 during trading hours 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 firm has a market cap of $108.77 million, a price-to-earnings ratio of -0.51 and a beta of 1.81. The company has a 50-day moving average price of $1.43 and a 200 day moving average price of $1.43. Adicet Bio has a 12-month low of $1.05 and a 12-month high of $3.77.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ACET shares. Guggenheim started coverage on Adicet Bio in a report on Monday, September 30th. They set a “buy” rating and a $7.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research report on Friday, September 20th. Canaccord Genuity Group cut their price objective on Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. StockNews.com upgraded Adicet Bio from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Finally, HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Adicet Bio presently has a consensus rating of “Moderate Buy” and an average price target 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.