Adicet Bio Inc (NASDAQ: ACET) Stock: Can It Go Higher?

In the last trading session, 1.54 million shares of the Adicet Bio Inc (NASDAQ:ACET) were traded, and its beta was 1.86. Most recently the company’s share price was $2.36, and it changed around -$0.04 or -1.67% from the last close, which brings the market valuation of the company to $193.87M. ACET currently trades at a discount to its 52-week high of $7.50, offering almost -217.8% off that amount. The share price’s 52-week low was $1.10, which indicates that the current value has risen by an impressive 53.39% since then. We note from Adicet Bio Inc’s average daily trading volume that its 10-day average is 1.03 million shares, with the 3-month average coming to 1.79 million.

Adicet Bio Inc stock received a consensus recommendation rating of Hold, based on a mean score of 1.44. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 2 recommended ACET as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Adicet Bio Inc is expected to report earnings per share of -$0.39 for the current quarter.

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Adicet Bio Inc (NASDAQ:ACET) trade information

Instantly ACET has showed a red trend with a performance of -1.67% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 24.87% year-to-date, but still up 7.27% over the last five days. On the other hand, Adicet Bio Inc (NASDAQ:ACET) is -1.67% down in the 30-day period. We can see from the shorts that 5.81 million shares have been sold at a short interest cover period of 3.32 day(s).

The consensus price target as assigned by Wall Street analysts is $32.5, which translates to bulls needing to increase their stock price by 92.74% from its current value. Analyst projections state that ACET is forecast to be at a low of $27 and a high of $38.

Adicet Bio Inc (ACET) estimates and forecasts

Adicet Bio Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 72.26 percent over the past six months and at a 39.86% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 45.80% in revenue this quarter, and will report an increase of 53.30% in the next quarter.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 19.75%. Adicet Bio Inc earnings are expected to increase by 46.06% in 2024, but the outlook is positive 29.10% per year for the next five years.

ACET Dividends

Adicet Bio Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 1.42% of Adicet Bio Inc shares, and 67.88% of them are in the hands of institutional investors. The stock currently has a share float of 68.86%. Adicet Bio Inc stock is held by 115 institutions, with Orbimed Advisors LLC. being the largest institutional investor. By Jun 29, 2023, it held 19.32% of the shares, which is about 8.32 million shares worth $20.22 million.

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

Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 0.98 million shares worth $2.39 million, making up 2.28% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 0.68 million shares worth around $1.37 million, which represents about 1.59% of the total shares outstanding.