Adicet Bio (NASDAQ:ACET – Get Free Report) 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 Trading Down 3.3 %
NASDAQ ACET traded down $0.03 on Thursday, reaching $0.85. 555,731 shares of the stock were exchanged, compared to its average volume of 994,510. The firm has a market capitalization of $69.71 million, a PE ratio of -0.49 and a beta of 1.86. Adicet Bio has a one year low of $0.81 and a one year high of $2.52. The company’s 50-day simple moving average is $0.93 and its two-hundred day simple moving average is $1.16.
Analysts Set New Price Targets
ACET has been the topic of several research reports. StockNews.com cut shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a report on Thursday, February 27th. Finally, Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.
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