Adicet Bio (NASDAQ:ACET) Announces Quarterly Earnings Results

Adicet Bio (NASDAQ:ACET) announced its quarterly earnings data on Thursday. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.20), FiscalAI reports.

Adicet Bio Stock Up 4.5%

Shares of ACET opened at $3.05 on Friday. Adicet Bio has a fifty-two week low of $2.87 and a fifty-two week high of $11.20. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average is $6.55 and its two-hundred day moving average is $7.56. The firm has a market cap of $28.55 million, a PE ratio of -0.36 and a beta of 1.69.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. HC Wainwright raised their price target on shares of Adicet Bio from $27.00 to $34.00 and gave the stock a “buy” rating in a report on Monday, September 28th. Benchmark reaffirmed a “buy” rating on shares of Adicet Bio in a report on Tuesday, September 29th. Guggenheim reissued a “buy” rating and set a $90.00 price target (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research note on Friday, August 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $28.00 price target (up from $25.00) on shares of Adicet Bio in a report on Monday, September 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Adicet Bio presently has a consensus rating of “Moderate Buy” and an average price target of $37.80.

Adicet Bio Company Profile

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. The company’s platform is focused on genetically engineered gamma delta T cells, an immune-cell type that can recognize and attack abnormal cells while potentially offering advantages for off-the-shelf cell therapy development.

Adicet’s product candidates are designed to incorporate chimeric antigen receptors and other modifications intended to improve tumor targeting, persistence, and activity.