Adicet Bio, Inc. (NASDAQ:ACET) Short Interest Up 32.1% in May

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 3,130,000 shares, an increase of 32.1% from the May 15th total of 2,370,000 shares. Based on an average trading volume of 519,500 shares, the short-interest ratio is currently 6.0 days. Approximately 4.7% of the shares of the company are short sold.

Institutional Trading of Adicet Bio

Institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp boosted its stake in shares of Adicet Bio by 25.1% in the fourth quarter. Northern Trust Corp now owns 140,369 shares of the company's stock valued at $135,000 after buying an additional 28,153 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Adicet Bio during the 4th quarter worth $29,000. Acadian Asset Management LLC lifted its position in shares of Adicet Bio by 1.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company's stock valued at $1,538,000 after acquiring an additional 36,277 shares during the period. Goldman Sachs Group Inc. increased its position in Adicet Bio by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company's stock worth $2,882,000 after purchasing an additional 63,691 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Adicet Bio by 87.3% during the 4th quarter. JPMorgan Chase & Co. now owns 150,485 shares of the company's stock worth $145,000 after purchasing an additional 70,132 shares during the last quarter. 83.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ACET shares. Wall Street Zen initiated coverage on shares of Adicet Bio in a report on Friday, May 16th. They issued a "hold" rating on the stock. Guggenheim reaffirmed a "buy" rating and issued a $7.00 price objective on shares of Adicet Bio in a research note on Friday, March 21st. Finally, HC Wainwright reissued a "neutral" rating on shares of Adicet Bio in a research note on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Adicet Bio currently has an average rating of "Moderate Buy" and a consensus target price of $7.50.

Adicet Bio Trading Down 0.4%

NASDAQ:ACET traded down $0.00 during trading hours on Tuesday, hitting $0.71. The company had a trading volume of 73,902 shares, compared to its average volume of 711,209. Adicet Bio has a 1 year low of $0.45 and a 1 year high of $1.70. The company has a 50-day moving average of $0.65 and a 200 day moving average of $0.81. The company has a market cap of $58.97 million, a P/E ratio of -0.41 and a beta of 1.67.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.03. On average, analysts forecast that Adicet Bio will post -1.39 earnings per share for the current year.

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.

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