Adicet Bio Stock Scheduled to Reverse Split on Tuesday, December 30th (NASDAQ:ACET)

Shares of Adicet Bio, Inc. (NASDAQ:ACET - Free Report) are scheduled to reverse split on Tuesday, December 30th. The 1-16 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, December 29th.Adicet Bio Stock PerformanceShares of NASDAQ ACET traded up $0.00 during mid-day trading on Friday, reaching $0.52. 2,937,097 shares of the company's stock were exchanged, compared to its average volume of 1,112,400. The firm has a 50-day moving average price of $0.64 and a two-hundred day moving average price of $0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.62 and a quick ratio of 5.62. The firm has a market capitalization of $79.70 million, a price-to-earnings ratio of -0.41 and a beta of 1.61. Adicet Bio has a 52 week low of $0.45 and a 52 week high of $1.11. Adicet Bio (NASDAQ:ACET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.03). Analysts predict that Adicet Bio will post -1.39 EPS for the current year. Wall Street Analyst Weigh InA number of research firms have recently weighed in on ACET. Citigroup reissued a "market perform" rating on shares of Adicet Bio in a research note on Wednesday, November 19th. Jefferies Financial Group raised shares of Adicet Bio to a "strong-buy" rating in a research note on Tuesday, October 7th. Wedbush reaffirmed an "outperform" rating and issued a $5.00 price target on shares of Adicet Bio in a research note on Thursday, November 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adicet Bio in a research note on Thursday, October 30th. Finally, Guggenheim boosted their price objective on shares of Adicet Bio from $7.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Adicet Bio presently has an average rating of "Moderate Buy" and a consensus price target of $7.33.Get Our Latest Analysis on Adicet BioInstitutional Investors Weigh In On Adicet BioA number of institutional investors have recently made changes to their positions in ACET. Susquehanna International Group LLP acquired a new position in Adicet Bio during the 3rd quarter worth $33,000. Citadel Advisors LLC boosted its stake in shares of Adicet Bio by 19.8% in the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company's stock valued at $473,000 after buying an additional 96,342 shares during the period. Virtu Financial LLC acquired a new position in shares of Adicet Bio during the third quarter worth about $65,000. Two Sigma Investments LP grew its position in shares of Adicet Bio by 66.6% during the third quarter. Two Sigma Investments LP now owns 854,568 shares of the company's stock worth $692,000 after buying an additional 341,761 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Adicet Bio during the third quarter worth approximately $38,000. 83.89% of the stock is currently owned by institutional investors and hedge funds. About Adicet Bio (Get Free Report)Adicet Bio, Inc NASDAQ: ACET is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company's proprietary platform enables the genetic engineering of γδ T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of γδ T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies. Adicet's lead product candidate, ADI-001, is a CAR‐engineered allogeneic γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.Featured ArticlesFive stocks we like better than Adicet BioDo you know what Amazon is planning for January 1?Shots officially fired…Washington prepares for warYour “birthright claim” just got activatedPut $1,000 into this stock by Jan 1 [Not NVDA]This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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