Adicet Bio, Inc. (NASDAQ:ACET) Short Interest Update

Adicet Bio, Inc. (NASDAQ:ACET) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 3,780,000 shares, an increase of 27.3% from the January 31st total of 2,970,000 shares. Based on an average daily volume of 905,100 shares, the days-to-cover ratio is presently 4.2 days.

Adicet Bio Trading Up 2.8 %

NASDAQ ACET opened at $0.87 on Wednesday. Adicet Bio has a 12 month low of $0.81 and a 12 month high of $2.52. The stock has a market cap of $71.77 million, a PE ratio of -0.51 and a beta of 1.86. The stock’s 50 day moving average is $0.93 and its 200 day moving average is $1.16.

Hedge Funds Weigh In On Adicet Bio

Several hedge funds have recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in Adicet Bio during the fourth quarter valued at $29,000. GSA Capital Partners LLP boosted its holdings in shares of Adicet Bio by 161.3% during the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after purchasing an additional 24,203 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Adicet Bio by 10,321.9% during the third quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock valued at $116,000 after purchasing an additional 79,582 shares in the last quarter. Northern Trust Corp grew its position in shares of Adicet Bio by 25.1% during the fourth quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock valued at $135,000 after purchasing an additional 28,153 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Adicet Bio in the fourth quarter worth about $177,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Analyst Upgrades and Downgrades

ACET has been the subject of several recent research reports. JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. StockNews.com cut Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Wedbush reissued an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a report on Thursday, November 7th. Finally, HC Wainwright restated 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 given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.50.

About Adicet Bio

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.