Adicet Bio (NASDAQ:ACET) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Adicet Bio (NASDAQ:ACET) posted its quarterly earnings results on Thursday. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.05, Zacks reports.

Adicet Bio Trading Down 3.3 %

Shares of NASDAQ:ACET traded down $0.03 during trading on Thursday, reaching $0.85. The company’s stock had a trading volume of 555,731 shares, compared to its average volume of 994,510. The stock has a market capitalization of $69.71 million, a PE ratio of -0.49 and a beta of 1.86. Adicet Bio has a 12 month low of $0.81 and a 12 month high of $2.52. The firm’s 50 day simple moving average is $0.93 and its two-hundred day simple moving average is $1.16.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ACET. JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a report on Thursday, November 7th. StockNews.com cut Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Finally, HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.50.

Adicet Bio Company Profile

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.