Monday, March 1, 2021

Adicet Bio Inc. [ACET] gain 18.86% so far this year. What now?

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Adicet Bio Inc. [NASDAQ: ACET] gained 21.99% on the last trading session, reaching $16.70 price per share at the time. The company report on February 10, 2021 that Adicet Bio, Inc. Announces Pricing of $135 Million Public Offering of Common Stock and Concurrent Private Placement.

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Adicet Bio, Inc. (“Adicet”) (Nasdaq: ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, announced the pricing of an underwritten public offering of 9,230,770 shares of its common stock at a public offering price of $13.00 per share. Adicet also granted the underwriters a 30-day option to purchase up to an additional 1,344,743 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $120.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares in the offering are to be sold by Adicet. The offering is expected to close on or about February 12, 2021, subject to customary closing conditions.


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In connection with the offering, Adicet intends to enter into a stock purchase agreement with certain existing investors for $15.0 million of shares of its common stock at a price per share equal to the public offering price, with an initial closing for certain investors to be held simultaneous with the closing of the offering and a subsequent closing for certain additional investors.

Adicet Bio Inc. represents 5.21 million in outstanding shares, while the company has a total market value of $324.48 million with the latest information. ACET stock price has been found in the range of $14.09 to $17.80.

If compared to the average trading volume of 62.10K shares, ACET reached a trading volume of 1565996 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Adicet Bio Inc. [ACET]:

B. Riley Securities have made an estimate for Adicet Bio Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 04, 2020. While these analysts kept the previous recommendation, JMP Securities raised their target price to Mkt Outperform. The new note on the price target was released on October 27, 2020, representing the official price target for Adicet Bio Inc. stock. Previously, the target price had yet another raise to $25, while Wedbush analysts kept a Outperform rating on ACET stock.

The Average True Range (ATR) for Adicet Bio Inc. is set at 1.12, with the Price to Sales ratio for ACET stock in the period of the last 12 months amounting to 25.96. The Price to Book ratio for the last quarter was 0.74, with the Price to Cash per share for the same quarter was set at 5.57.

Trading performance analysis for ACET stock

Adicet Bio Inc. [ACET] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 35.00. With this latest performance, ACET shares gained by 21.28% in over the last four-week period, additionally plugging by 0.24% over the last 6 months – not to mention a rise of 71.63% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ACET stock in for the last two-week period is set at 71.69, with the RSI for the last a single of trading hit 78.81, and the three-weeks RSI is set at 66.50 for Adicet Bio Inc. [ACET]. The present Moving Average for the last 50 days of trading for this stock 13.52, while it was recorded at 13.91 for the last single week of trading, and 14.14 for the last 200 days.

Adicet Bio Inc. [ACET]: A deeper dive into fundamental analysis

Adicet Bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 3.60.

Adicet Bio Inc. [ACET]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Adicet Bio Inc. posted -5.53/share EPS, while the average EPS was predicted by analysts to be reported at -4.39/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -26.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ACET. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Adicet Bio Inc. go to 29.10%.

An analysis of insider ownership at Adicet Bio Inc. [ACET]

There are presently around $128 million, or 47.00% of ACET stock, in the hands of institutional investors. The top three institutional holders of ACET stocks are: ORBIMED ADVISORS LLC with ownership of 6,708,507, which is approximately 872.15% of the company’s market cap and around 0.40% of the total institutional ownership; JOHNSON & JOHNSON INNOVATION – JJDC, INC., holding 662,676 shares of the stock with an approximate value of $9.07 million in ACET stocks shares; and NANTAHALA CAPITAL MANAGEMENT, LLC, currently with $5.68 million in ACET stock with ownership of nearly -0.003% of the company’s market capitalization.

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17 institutional holders increased their position in Adicet Bio Inc. [NASDAQ:ACET] by around 6,525,622 shares. Additionally, 32 investors decreased positions by around 249,377 shares, while 6 investors held positions by with 2,574,205 shares. The mentioned changes placed institutional holdings at 9,349,204 shares, according to the latest SEC report filing. ACET stock had 5 new institutional investments in for a total of 108,291 shares, while 20 institutional investors sold positions of 164,366 shares during the same period.

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