Adicet Bio, Inc. (NASDAQ:ACET) Short Interest Update

Adicet Bio, Inc. (NASDAQ:ACETGet Rating) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 2,310,000 shares, a growth of 69.9% from the April 15th total of 1,360,000 shares. Based on an average trading volume of 391,400 shares, the short-interest ratio is currently 5.9 days. Approximately 10.2% of the company’s shares are short sold.

Several equities analysts recently commented on the company. Sumitomo Mitsui Financial Group assumed coverage on Adicet Bio in a report on Thursday, March 31st. They issued an “outperform” rating and a $28.00 target price on the stock. JMP Securities dropped their target price on Adicet Bio from $30.00 to $21.00 and set a “market outperform” rating on the stock in a report on Thursday, March 17th. Truist Financial initiated coverage on Adicet Bio in a report on Tuesday, March 8th. They issued a “buy” rating and a $30.00 target price on the stock. StockNews.com initiated coverage on Adicet Bio in a report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, Jefferies Financial Group initiated coverage on Adicet Bio in a report on Friday, March 4th. They set a “buy” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Adicet Bio presently has an average rating of “Buy” and an average price target of $27.58.

Shares of NASDAQ ACET opened at $11.83 on Friday. Adicet Bio has a 52-week low of $6.25 and a 52-week high of $21.17. The firm has a fifty day moving average of $15.74 and a 200-day moving average of $13.82.

Adicet Bio (NASDAQ:ACETGet Rating) last posted its earnings results on Thursday, May 12th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.28. As a group, sell-side analysts expect that Adicet Bio will post -1.02 EPS for the current fiscal year.

In other Adicet Bio news, SVP Francesco Galimi sold 7,621 shares of the company’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $21.00, for a total transaction of $160,041.00. Following the transaction, the senior vice president now directly owns 59,917 shares in the company, valued at $1,258,257. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aya Jakobovits sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $14.83, for a total value of $59,320.00. The disclosure for this sale can be found here. Insiders sold 19,600 shares of company stock worth $386,920 over the last quarter. 33.90% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of ACET. Citigroup Inc. grew its position in shares of Adicet Bio by 45.2% during the third quarter. Citigroup Inc. now owns 4,243 shares of the company’s stock worth $33,000 after buying an additional 1,320 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Adicet Bio by 69.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,672 shares of the company’s stock worth $33,000 after buying an additional 685 shares in the last quarter. Dorsey Wright & Associates acquired a new stake in shares of Adicet Bio during the first quarter worth approximately $70,000. Metropolitan Life Insurance Co NY acquired a new stake in shares of Adicet Bio during the fourth quarter worth approximately $106,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Adicet Bio during the third quarter worth approximately $115,000. 76.21% of the stock is owned by institutional investors.

About Adicet Bio (Get Rating)

Adicet Bio, Inc, a biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for cancer and other diseases. The company offers gamma delta T cells engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and enhance persistence for durable activity in patients.

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