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Adicet Bio Inc. (NASDAQ: ACET) Has Succeeded In Gaining Momentum In 2023, The Stock Is Down -16.89% YTD

Adicet Bio Inc. (NASDAQ:ACET)’s traded shares stood at 3.54 million during the last session, with the company’s beta value hitting 2.27. At the close of trading, the stock’s price was $7.43, to imply a decrease of -3.63% or -$0.28 in intraday trading. The ACET share’s 52-week high remains $21.87, putting it -194.35% down since that peak but still an impressive 8.21% since price per share fell to its 52-week low of $6.82. The company has a valuation of $331.75M, with an average of 0.88 million shares in intraday trading volume over the past 10 days and average of 521.96K shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for Adicet Bio Inc. (ACET), translating to a mean rating of 1.50. Of 11 analyst(s) looking at the stock, 0 analyst(s) give ACET a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 11 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.28.

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Adicet Bio Inc. (NASDAQ:ACET) trade information

After registering a -3.63% downside in the last session, Adicet Bio Inc. (ACET) has traded red over the past five days. The stock hit a weekly high of 8.15 this Friday, 03/17/23, dropping -3.63% in its intraday price action. The 5-day price performance for the stock is 4.06%, and -8.72% over 30 days. With these gigs, the year-to-date price performance is -16.89%. Short interest in Adicet Bio Inc. (NASDAQ:ACET) saw shorts transact 3.18 million shares and set a 5.71 days time to cover.

Analysts on Wall Street suggest a consensus price target of $26.91, implying an increase of 72.39% to the stock’s current value. The extremes give us $19.00 and $38.00 for target low and target high price respectively. As such, ACET has been trading -411.44% off suggested target high and -155.72% from its likely low.

Adicet Bio Inc. (ACET) estimates and forecasts

Looking at statistics comparing Adicet Bio Inc. share performance against respective industry, we note that the company has underperformed competitors. Adicet Bio Inc. (ACET) shares are -56.63% down over the last 6 months, with its year-to-date growth rate lower than industry average at -14.12% against 9.60%. Revenue is forecast to grow 40.40% this quarter before falling -670.00% for the next one. The rating firms project that company’s revenue will grow 263.80% compared to the previous financial year.

Revenue forecast for the current quarter as set by 9 analysts is $11.56 million. Earnings reports from the last fiscal year show that sales brought in $5.47 million and $24.99 million respectively in the corresponding quarters.

ACET Dividends

Adicet Bio Inc. has its next earnings report out between May 10 and May 15. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Adicet Bio Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Adicet Bio Inc. (NASDAQ:ACET)’s Major holders

Adicet Bio Inc. insiders hold 4.83% of total outstanding shares, with institutional holders owning 111.68% of the shares at 117.35% float percentage. In total, 111.68% institutions holds shares in the company, led by Orbimed Advisors LLC. As of Sep 29, 2022, the company held over 7.45 million shares (or 17.38% of shares), all amounting to roughly $105.9 million.

The next major institution holding the largest number of shares is RTW Investments LP with 4.24 million shares, or about 9.90% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $60.31 million.

We also have SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Adicet Bio Inc. (ACET) shares. Going by data provided on Dec 30, 2022, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF holds roughly 1.74 million shares. This is just over 4.07% of the total shares, with a market valuation of $15.58 million. Data from the same date shows that the other fund manager holds a little less at 0.76 million, or 1.76% of the shares, all valued at about 10.75 million.

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