Adicet Bio (NASDAQ:ACET) Sees Strong Trading Volume – Here’s Why

Adicet Bio, Inc. (NASDAQ:ACET) shares saw an uptick in trading volume on Wednesday . 162,868 shares were traded during trading, an increase of 129% from the previous session’s volume of 71,029 shares.The stock last traded at $8.2260 and had previously closed at $7.93.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a research note on Tuesday, October 7th. Guggenheim lifted their target price on shares of Adicet Bio from $112.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Wedbush reissued an “outperform” rating and set a $80.00 target price on shares of Adicet Bio in a research report on Thursday, November 6th. HC Wainwright upped their price target on shares of Adicet Bio from $64.00 to $144.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, Citigroup reiterated a “market perform” rating on shares of Adicet Bio in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.33.

Adicet Bio Trading Up 4.7%

The company has a debt-to-equity ratio of 0.01, a current ratio of 5.62 and a quick ratio of 5.62. The company’s 50 day moving average is $9.85 and its two-hundred day moving average is $11.33. The firm has a market cap of $1.27 billion, a P/E ratio of -6.58 and a beta of 1.61.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($4.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.16) by ($0.48). On average, sell-side analysts predict that Adicet Bio, Inc. will post -1.39 earnings per share for the current year.

Institutional Investors Weigh In On Adicet Bio

Institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP acquired a new position in shares of Adicet Bio in the 3rd quarter valued at $33,000. Squarepoint Ops LLC acquired a new position in Adicet Bio in the third quarter worth about $38,000. Vontobel Holding Ltd. lifted its stake in Adicet Bio by 33.3% during the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after purchasing an additional 20,000 shares during the period. Virtu Financial LLC bought a new position in Adicet Bio during the third quarter worth about $65,000. Finally, Wealthedge Investment Advisors LLC boosted its holdings in Adicet Bio by 37.4% during the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after purchasing an additional 85,307 shares in the last quarter. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Company Profile

Adicet Bio, Inc (NASDAQ: ACET) is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of γδ T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of γδ T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.

Adicet’s lead product candidate, ADI-001, is a CAR‐engineered allogeneic γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.