Adicet Bio (NASDAQ:ACET) Issues Earnings Results, Misses Expectations By $0.20 EPS

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

Adicet Bio Stock Up 2.1%

ACET stock traded up $0.06 during midday trading on Friday, hitting $2.98. The stock had a trading volume of 39,069 shares, compared to its average volume of 153,533. The business has a 50-day moving average of $6.67 and a two-hundred day moving average of $7.59. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.71 and a quick ratio of 6.71. The firm has a market cap of $27.89 million, a price-to-earnings ratio of -0.26 and a beta of 1.69. Adicet Bio has a 52-week low of $2.87 and a 52-week high of $11.20.

Analyst Ratings Changes

A number of brokerages have issued reports on ACET. Wedbush reissued an “outperform” rating and set a $28.00 price objective (up from $25.00) on shares of Adicet Bio in a research report on Monday, September 28th. Jefferies Financial Group raised shares of Adicet Bio to a “strong-buy” rating in a research note on Tuesday, September 1st. Guggenheim reiterated 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. Benchmark reiterated a “buy” rating on shares of Adicet Bio in a research report on Tuesday, September 29th. Finally, Wall Street Zen downgraded shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.