Adicet Bio Inc (NASDAQ: ACET) In 2024: Will It Be Worth Your Money?

In the last trading session, 1.18 million Adicet Bio Inc (NASDAQ:ACET) shares changed hands as the company’s beta touched 1.96. With the company’s per share price at $3.12 changed hands at -$0.15 or -4.59% during last session, the market valuation stood at $256.00M. ACET’s last price was a discount, traded about -171.79% off its 52-week high of $8.48. The share price had its 52-week low at $1.10, which suggests the last value was 64.74% up since then. When we look at Adicet Bio Inc’s average trading volume, we note the 10-day average is 2.35 million shares, with the 3-month average coming to 0.99.

Adicet Bio Inc (NASDAQ:ACET) trade information

Instantly ACET was in red as seen at the end of in last trading. The drop to weekly highs of 3.62 subtracted -4.59% to the stock’s daily price. The company’s shares are showing year-to-date upside of 65.08%. However, in the 30-day time frame, Adicet Bio Inc (NASDAQ:ACET) is 2.63% up. Looking at the short shares, we see there were 3.89 million shares sold at short interest cover period of 1.71 days.

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Adicet Bio Inc (ACET) estimates and forecasts

Data shows that the Adicet Bio Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 35.65% over the past 6 months, a -99.41% in annual growth rate that is considerably lower than the industry average of 15.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 50.81%. The 2024 estimates are for Adicet Bio Inc earnings to decrease by -94.64%, but the outlook for the next 5-year period is at 29.10% per year.

ACET Dividends

Adicet Bio Inc is expected to release its next quarterly earnings report between March 13 and March 18.

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

If we look at who the major shareholders are, we find that insiders hold 1.67% of Adicet Bio Inc shares while 67.65% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 68.80%. There are 67.65% institutions holding the Adicet Bio Inc stock share, with Orbimed Advisors LLC. the top institutional holder. As of Jun 29, 2023, the company held 19.32% of the shares, roughly 8.32 million ACET shares worth $20.22 million.

RTW Investments LP holds the second largest percentage of outstanding shares, with 9.85% or 4.24 million shares worth $10.31 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 0.98 million shares estimated at $2.39 million under it, the former controlled 2.28% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 1.59% of the shares, roughly 0.68 million shares worth around $1.37 million.

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