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What Did We Note About Insider Trading At Adicet Bio Inc (NASDAQ: ACET)?

Adicet Bio Inc (NASDAQ:ACET) price closed higher on Friday, February 09, jumping 3.27% below its previous close.

A look at the daily price movement shows that the last close reads $9.60. The company’s 5Y monthly beta was ticking 1.74. Taking into account the 52-week price action we note that the stock hit a 52-week high of $8.48 and 52-week low of $1.10. The stock subtracted -2.39% on its value in the past month.

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Adicet Bio Inc, which has a market valuation of $268.30 million, is expected to release its quarterly earnings report Mar 13, 2024 – Mar 18, 2024. Analysts tracking ACET have forecast the quarterly EPS to shrink by -0.7 per share this quarter, while the same analysts predict the annual EPS to hit -$3.33 for the year 2024 and up to -$2.36 for 2024. In this case, analysts estimate an annual EPS growth of -95.90% for the year and 29.10% for the next year.

Staying with the analyst view, there is a consensus estimate of $560k for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow -97.80% below that which the company brought in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give ACET a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as 50% Buy.

The overview shows that ACET’s price is at present -57.39% off the SMA20. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 64.30, with weekly volatility standing at 11.17%. The indicator jumps to 11.76% when calculated based on the past 30 days. Adicet Bio Inc (NASDAQ:ACET)’s beta value is holding at 1.96, while the average true range (ATR) indicator is currently reading 0.33.

An analysis of the Adicet Bio Inc (NASDAQ:ACET) stock in terms of its daily trading volume indicates that the 3-month average is 1.74. However, this figure increases on the past 10-day timeline to an average of 2.35 million.

Current records show that the company has 82.05M in outstanding shares. The insiders’ percentage holdings are 37.14% of outstanding shares while the percentage share held by institutions stands at 42.73%. The stats also highlight that short interest as of Jan 31, 2024, stood at 3.89 million shares, which puts the short ratio at the time at 1.71. From this we can glean that short interest is 4.74% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 2.65 million. But the 73.02% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.