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

Adicet Bio (NASDAQ:ACET) issued its quarterly earnings data on Thursday. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.05, Zacks reports.

Adicet Bio Price Performance

Shares of ACET opened at $0.80 on Friday. The stock’s 50-day moving average is $0.93 and its two-hundred day moving average is $1.16. The stock has a market cap of $65.60 million, a PE ratio of -0.47 and a beta of 1.86. Adicet Bio has a 12 month low of $0.79 and a 12 month high of $2.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ACET shares. JMP Securities reissued a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research report on Friday. Finally, StockNews.com downgraded Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.