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

Adicet Bio, Inc. (NASDAQ:ACET) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 3,780,000 shares, an increase of 27.3% from the January 31st total of 2,970,000 shares. Based on an average daily trading volume, of 905,100 shares, the days-to-cover ratio is currently 4.2 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bridgeway Capital Management LLC boosted its holdings in shares of Adicet Bio by 20.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock worth $988,000 after purchasing an additional 175,000 shares during the period. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Adicet Bio during the fourth quarter worth approximately $931,000. Two Sigma Advisers LP boosted its holdings in shares of Adicet Bio by 12.4% during the fourth quarter. Two Sigma Advisers LP now owns 794,039 shares of the company’s stock worth $764,000 after purchasing an additional 87,400 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Adicet Bio by 14.5% during the third quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock worth $1,107,000 after purchasing an additional 97,567 shares during the period. Finally, Stonepine Capital Management LLC raised its position in Adicet Bio by 14.9% during the fourth quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock valued at $673,000 after acquiring an additional 90,554 shares in the last quarter. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Adicet Bio Trading Down 3.3 %

Adicet Bio stock opened at $0.85 on Friday. The stock has a market cap of $69.71 million, a price-to-earnings ratio of -0.49 and a beta of 1.86. The company’s 50-day moving average price is $0.93 and its two-hundred day moving average price is $1.16. Adicet Bio has a 52 week low of $0.81 and a 52 week high of $2.52.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.05. Research analysts expect that Adicet Bio will post -1.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ACET. JMP Securities restated a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. Wedbush restated an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research report on Thursday, November 7th. StockNews.com cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Adicet Bio currently has an average rating of “Hold” and a consensus 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.