Adicet Bio (NASDAQ:ACET) Shares to Reverse Split on Tuesday, December 30th

Adicet Bio, Inc. (NASDAQ:ACET) shares are going to reverse split on the morning of Tuesday, December 30th. The 1-16 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 29th.

Adicet Bio Stock Up 0.2%

NASDAQ ACET traded up $0.00 during trading on Friday, reaching $0.52. 2,937,097 shares of the company’s stock were exchanged, compared to its average volume of 1,112,400. The company has a 50 day moving average price of $0.64 and a two-hundred day moving average price of $0.71. The stock has a market cap of $79.70 million, a P/E ratio of -0.41 and a beta of 1.61. Adicet Bio has a 1 year low of $0.45 and a 1 year high of $1.11. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.62 and a current ratio of 5.62.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Wednesday, November 5th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.03). On average, equities research analysts anticipate that Adicet Bio will post -1.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ACET shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a report on Thursday, October 30th. Jefferies Financial Group raised Adicet Bio to a “strong-buy” rating in a research report on Tuesday, October 7th. Guggenheim boosted their target price on Adicet Bio from $7.00 to $8.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. HC Wainwright upped their price target on Adicet Bio from $4.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.33.

Institutional Trading of Adicet Bio

A number of institutional investors have recently added to or reduced their stakes in ACET. Susquehanna International Group LLP acquired a new stake in shares of Adicet Bio in the 3rd quarter worth approximately $33,000. Citadel Advisors LLC grew its holdings in Adicet Bio by 19.8% in the third quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock valued at $473,000 after purchasing an additional 96,342 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Adicet Bio in the third quarter valued at $65,000. Two Sigma Investments LP raised its stake in shares of Adicet Bio by 66.6% during the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock worth $692,000 after buying an additional 341,761 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Adicet Bio in the 3rd quarter worth about $38,000. Hedge funds and other 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.