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

Adicet Bio, Inc. (NASDAQ:ACET)’s stock is scheduled to reverse split before the market opens on 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 Trading Up 0.2%

Adicet Bio stock traded up $0.00 during midday trading on Friday, reaching $0.52. The stock had a trading volume of 2,937,097 shares, compared to its average volume of 2,787,040. Adicet Bio has a twelve month low of $0.45 and a twelve month high of $1.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.62 and a quick ratio of 5.62. The firm has a market cap of $79.70 million, a price-to-earnings ratio of -0.41 and a beta of 1.61. The firm’s fifty day simple moving average is $0.63 and its two-hundred day simple moving average is $0.71.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). Equities analysts anticipate that Adicet Bio will post -1.39 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Adicet Bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Adicet Bio by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after buying an additional 63,691 shares during the last quarter. Acadian Asset Management LLC raised 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 last quarter. Two Sigma Investments LP lifted its stake in shares of Adicet Bio by 66.6% in the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock valued at $692,000 after purchasing an additional 341,761 shares during the period. Citadel Advisors LLC boosted its position in shares of Adicet Bio by 19.8% in the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock worth $473,000 after purchasing an additional 96,342 shares during the last quarter. Finally, Wealthedge Investment Advisors LLC increased its holdings in Adicet Bio by 37.4% in the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after purchasing an additional 85,307 shares during the last quarter. 83.89% of the stock is owned by institutional investors.

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.