Adicet Bio (NASDAQ:ACET) Posts Earnings Results

Adicet Bio (NASDAQ:ACET – Get Rating) issued its quarterly earnings data on Thursday. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.28, MarketWatch Earnings reports.

NASDAQ:ACET opened at $11.83 on Friday. Adicet Bio has a 12-month low of $6.25 and a 12-month high of $21.17. The stock’s fifty day simple moving average is $15.74 and its 200-day simple moving average is $13.82.

In other news, SVP Francesco Galimi sold 7,979 shares of the business’s stock in a transaction on Monday, April 4th. The shares were sold at an average price of $21.00, for a total value of $167,559.00. Following the completion of the transaction, the senior vice president now owns 59,917 shares of the company’s stock, valued at approximately $1,258,257. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Aya Jakobovits sold 4,000 shares of the firm’s stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $14.83, for a total value of $59,320.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,600 shares of company stock valued at $386,920. 33.90% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp lifted its stake in Adicet Bio by 20.4% in the first quarter. Northern Trust Corp now owns 204,200 shares of the company’s stock valued at $4,078,000 after buying an additional 34,649 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Adicet Bio by 29.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 66,803 shares of the company’s stock valued at $1,335,000 after acquiring an additional 15,116 shares in the last quarter. American International Group Inc. boosted its stake in Adicet Bio by 15.1% in the 1st quarter. American International Group Inc. now owns 12,789 shares of the company’s stock worth $255,000 after purchasing an additional 1,675 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Adicet Bio by 52.3% in the 1st quarter. Allianz Asset Management GmbH now owns 59,215 shares of the company’s stock valued at $1,183,000 after purchasing an additional 20,335 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Adicet Bio by 193.6% in the first quarter. Dimensional Fund Advisors LP now owns 78,613 shares of the company’s stock valued at $1,570,000 after purchasing an additional 51,837 shares in the last quarter. Institutional investors and hedge funds own 76.21% of the company’s stock.

ACET has been the topic of several analyst reports. JMP Securities lowered their price target on Adicet Bio from $30.00 to $21.00 and set a “market outperform” rating on the stock in a report on Thursday, March 17th. Sumitomo Mitsui Financial Group started coverage on Adicet Bio in a research note on Thursday, March 31st. They set an “outperform” rating and a $28.00 target price for the company. Jefferies Financial Group assumed coverage on Adicet Bio in a research report on Friday, March 4th. They issued a “buy” rating and a $27.00 price target on the stock. Truist Financial started coverage on shares of Adicet Bio in a research report on Tuesday, March 8th. They set a “buy” rating and a $30.00 price objective for the company. Finally, StockNews.com assumed coverage on Adicet Bio in a research report on Thursday, March 31st. They set a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $27.58.

About Adicet Bio (Get Rating)

Adicet Bio, Inc, a biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for cancer and other diseases. The company offers gamma delta T cells engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and enhance persistence for durable activity in patients.

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