The stock of Adicet Bio Inc. (NASDAQ:ACET) last traded at $7.96, up 2.98% from the previous session.
ACET stock price is now -3.69% away from the 50-day moving average and -41.00% away from the 200-day moving average. The market capitalization of the company currently stands at $355.41M.
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With the price target of $23, JP Morgan recently initiated with Overweight rating for Adicet Bio Inc. (NASDAQ: ACET). On March 31, 2022, SMBC Nikko recently initiated its ‘Outperform’ rating on the stock quoting a target price of $28, while ‘Truist’ rates the stock as ‘Buy’.
In other news, Healey Don, Chief Technology Officer sold 4,533 shares of the company’s stock on Feb 15. The stock was sold for $34,327 at an average price of $7.57. Upon completion of the transaction, the Chief Technology Officer now directly owns 66,568 shares in the company, valued at $0.53 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 10, Chief Technology Officer Healey Don sold 10,467 shares of the business’s stock. A total of $83,476 was realized by selling the stock at an average price of $7.98. This leaves the insider owning 71,101 shares of the company worth $0.57 million. Insiders disposed of 374,934 shares of company stock worth roughly $2.98 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ACET stock. A new stake in Adicet Bio Inc. shares was purchased by ECOR1 CAPITAL, LLC during the first quarter worth $28,343,000. WELLINGTON MANAGEMENT GROUP LLP invested $6,396,000 in shares of ACET during the first quarter. In the first quarter, TANG CAPITAL MANAGEMENT LLC acquired a new stake in Adicet Bio Inc. valued at approximately $4,776,000. QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in ACET for approximately $1,030,000. MILLENNIUM MANAGEMENT LLC purchased a new stake in ACET valued at around $608,000 in the second quarter.
With an opening price of $7.88 on Tuesday morning, Adicet Bio Inc. (NASDAQ: ACET) set off the trading day. During the past 12 months, Adicet Bio Inc. has had a low of $6.82 and a high of $21.87. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 16.60, and a quick ratio of 16.60. The fifty day moving average price for ACET is $8.25 and a two-hundred day moving average price translates $13.48 for the stock.
The latest earnings results from Adicet Bio Inc. (NASDAQ: ACET) was released for Sep, 2022. According to the Biotechnology Company, earnings per share came in at -$0.53, inline with analysts’ expectations of -$0.53. This compares to -$0.44 EPS in the same period last year. For the current quarter, analysts expect ACET to generate $11.56M in revenue.
Adicet Bio Inc.(ACET) Company Profile
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. Its lead product in pipeline includes ADI-001, which is in Phase I clinical study for the treatment of non-Hodgkin’s lymphoma. The company also engages in the development of ADI-002, which is undergoing preclinical studies for the treatment of various solid tumors. Adicet Bio, Inc. is based in Boston, Massachusetts.
