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

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 2,060,000 shares, a drop of 27.7% from the March 31st total of 2,850,000 shares. Currently, 3.1% of the shares of the company are sold short. Based on an average daily trading volume, of 796,900 shares, the days-to-cover ratio is currently 2.6 days.Institutional Inflows and OutflowsSeveral institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Adicet Bio during the fourth quarter valued at $29,000. Wealthedge Investment Advisors LLC bought a new stake in shares of Adicet Bio during the 4th quarter valued at about $71,000. JPMorgan Chase & Co. grew its holdings 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 worth $116,000 after purchasing an additional 79,582 shares in the last quarter. Northern Trust Corp grew its holdings 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 worth $135,000 after purchasing an additional 28,153 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Adicet Bio in the fourth quarter worth approximately $177,000. Institutional investors own 83.89% of the company's stock. Adicet Bio Stock PerformanceShares of ACET opened at $0.66 on Thursday. Adicet Bio has a 52-week low of $0.45 and a 52-week high of $1.87. The stock's 50-day simple moving average is $0.72 and its 200 day simple moving average is $0.94. The stock has a market capitalization of $54.75 million, a price-to-earnings ratio of -0.39 and a beta of 1.99. Adicet Bio (NASDAQ:ACET - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) EPS for the quarter, beating analysts' consensus estimates of ($0.37) by $0.05. On average, research analysts forecast that Adicet Bio will post -1.39 earnings per share for the current fiscal year. Analysts Set New Price TargetsA number of research analysts have recently commented on ACET shares. StockNews.com raised Adicet Bio from a "sell" rating to a "hold" rating in a research report on Monday. JMP Securities reaffirmed a "market perform" rating on shares of Adicet Bio in a report on Thursday, February 6th. HC Wainwright reiterated a "neutral" rating on shares of Adicet Bio in a research note on Friday, March 7th. Finally, Guggenheim restated a "buy" rating and set a $7.00 price target on shares of Adicet Bio in a research note on Friday, March 21st. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $7.50.Read Our Latest Stock Report on Adicet BioAdicet Bio Company Profile (Get Free Report)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.Featured ArticlesFive stocks we like better than Adicet BioTop Biotech Stocks: Exploring Innovation OpportunitiesWhy D-Wave's Project With Davidson Is a Game-Changer For QuantumWhat is the Hang Seng index? Hims & Hers Stock Soars on Novo Nordisk Collaboration3 Small Caps With Big Return PotentialAmazon's Earnings Will Make or Break the Stock's Comeback This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Adicet Bio Right Now?Before you consider Adicet Bio, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Adicet Bio wasn't on the list.While Adicet Bio currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here