Adicet Bio (NASDAQ:ACET) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Adicet Bio (NASDAQ:ACET) issued its earnings results on Tuesday. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.03, Yahoo Finance reports.

Adicet Bio Stock Performance

NASDAQ:ACET traded up $0.11 during trading hours on Thursday, hitting $1.48. The company’s stock had a trading volume of 232,133 shares, compared to its average volume of 1,378,456. The business’s 50-day moving average is $1.33 and its two-hundred day moving average is $1.87. The company has a market capitalization of $121.67 million, a PE ratio of -0.46 and a beta of 1.80. Adicet Bio has a 52-week low of $1.05 and a 52-week high of $3.77.

Analysts Set New Price Targets

A number of research firms have weighed in on ACET. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Adicet Bio in a report on Wednesday. StockNews.com upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a research note on Wednesday. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a research note on Tuesday. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $19.00 target price on shares of Adicet Bio in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

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.