Adicet Bio (NASDAQ:ACET) Issues Quarterly Earnings Results

Adicet Bio (NASDAQ:ACET) released its quarterly earnings data on Thursday. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.05, Zacks reports.

Adicet Bio Price Performance

NASDAQ ACET traded down $0.03 during midday trading on Thursday, hitting $0.85. 555,725 shares of the company traded hands, compared to its average volume of 993,911. Adicet Bio has a 52 week low of $0.81 and a 52 week high of $2.52. The company’s 50-day simple moving average is $0.93 and its 200-day simple moving average is $1.16. The company has a market cap of $69.71 million, a PE ratio of -0.49 and a beta of 1.86.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a research note on Thursday, February 27th. StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, Wedbush reaffirmed an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.50.

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.