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

Adicet Bio (NASDAQ:ACET) issued 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 Trading Up 1.9 %

Shares of Adicet Bio stock traded up $0.03 during trading hours on Thursday, hitting $1.33. 424,326 shares of the company were exchanged, compared to its average volume of 1,116,171. Adicet Bio has a 1 year low of $1.05 and a 1 year high of $3.77. The business has a 50-day moving average of $1.43 and a 200-day moving average of $1.43. The stock has a market capitalization of $109.18 million, a price-to-earnings ratio of -0.52 and a beta of 1.81.

Wall Street Analyst Weigh In

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