Adicet Bio (NASDAQ:ACET) Releases Earnings Results, Misses Expectations By $0.20 EPS

Adicet Bio (NASDAQ:ACET) posted its earnings results on Thursday. The company reported ($1.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.20), FiscalAI reports.

Adicet Bio Price Performance

Shares of NASDAQ:ACET traded down $0.18 during trading on Thursday, reaching $2.92. 420,202 shares of the company traded hands, compared to its average volume of 154,046. The company’s 50 day moving average is $6.79 and its two-hundred day moving average is $7.62. The firm has a market capitalization of $27.33 million, a PE ratio of -0.26 and a beta of 1.69. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. Adicet Bio has a 52 week low of $2.87 and a 52 week high of $11.37.

Analysts Set New Price Targets

ACET has been the topic of several research reports. HC Wainwright upped their price target on shares of Adicet Bio from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Monday, September 28th. Wall Street Zen cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Benchmark reissued a “buy” rating on shares of Adicet Bio in a report on Tuesday, September 29th. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a research report on Tuesday, September 1st. Finally, Guggenheim restated a “buy” rating and set a $90.00 target price (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.80.

About Adicet Bio

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. The company’s platform is focused on genetically engineered gamma delta T cells, an immune-cell type that can recognize and attack abnormal cells while potentially offering advantages for off-the-shelf cell therapy development.

Adicet’s product candidates are designed to incorporate chimeric antigen receptors and other modifications intended to improve tumor targeting, persistence, and activity.