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

Adicet Bio, Inc. (NASDAQ:ACET) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 3,720,000 shares, a drop of 11.0% from the September 15th total of 4,180,000 shares. Based on an average daily volume of 676,900 shares, the short-interest ratio is presently 5.5 days.

Hedge Funds Weigh In On Adicet Bio

Several hedge funds and other institutional investors have recently modified their holdings of ACET. RA Capital Management L.P. acquired a new stake in Adicet Bio in the first quarter valued at about $17,721,000. Vanguard Group Inc. lifted its holdings in shares of Adicet Bio by 85.5% in the first quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after acquiring an additional 1,441,503 shares during the last quarter. Carlyle Group Inc. lifted its holdings in shares of Adicet Bio by 39.4% in the first quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock worth $6,900,000 after acquiring an additional 833,333 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Adicet Bio by 44.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,512,600 shares of the company’s stock valued at $1,830,000 after purchasing an additional 463,600 shares in the last quarter. Finally, Blackstone Inc. bought a new stake in shares of Adicet Bio during the 1st quarter valued at approximately $2,906,000. Institutional investors own 83.89% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Guggenheim began coverage on Adicet Bio in a research report on Monday, September 30th. They set a “buy” rating and a $7.00 price objective on the stock. StockNews.com raised shares of Adicet Bio from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a report on Friday, September 20th. Canaccord Genuity Group decreased their target price on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.50.

Adicet Bio Trading Up 6.4 %

Shares of Adicet Bio stock opened at $1.49 on Thursday. Adicet Bio has a 12-month low of $1.05 and a 12-month high of $3.77. The firm’s 50-day moving average price is $1.45 and its two-hundred day moving average price is $1.52.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.03. Equities research analysts anticipate that Adicet Bio will post -1.41 EPS for the current year.

About Adicet Bio

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.