Adicet Bio, Inc.
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Range $27 – $27
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About the company
Adicet Bio, Inc. is a biotechnology firm dedicated to pioneering allogeneic gamma delta T cell therapies, aiming to treat cancer and various other diseases. The company’s strategy involves engineering gamma delta T cells with chimeric antigen receptors (CARs) and T cell receptor-like antibodies.
- CEO
- Chen Schor
- IPO
- 2018
- Employees
- 102
- HQ
- Boston, MA, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $60.42M
- P/E
- -0.56
- Fwd P/E
- 2.75
- PEG
- -0.01
- P/S
- 0.00
- P/B
- 0.58
- EV/EBITDA
- -0.44
- Div Yield
- 0.00%
- Gross Margin
- 0.00%
- Op Margin
- 0.00%
- Net Margin
- 0.00%
- ROE
- -74.90%
- ROIC
- -77.98%
Latest fiscal year · YoY change
- Revenue
- $0+0.0%
- Gross Profit
- $-6,381,000+0.0%
- Op Income
- $-122,114,000
- Net Income
- $-116,803,000+0.3%
- EPS
- $-16.95+20.3%
- OCF Growth
- -3.1%
- FCF Growth
- -3.7%
- 52W High
- $17.44
- 52W Low
- $6.01
- 50D MA
- $8.64
- 200D MA
- $8.01
- Beta
- 1.59
- RSI (14)
- 35
- Avg Volume
- 163.99K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
ACETO’s first quarter was weak overall, but the company said its non-generic businesses held up well and Rising’s supply-chain issues are easing, while liquidity and debt remain key investor concerns.· November 10, 2018
- Consolidated net sales fell to $164.4 million from $185.3 million, gross profit fell to $25.5 million from $40.0 million, and gross margin dropped to 15.5% from 21.6%.
- Net loss was $21.1 million, or $0.59 per share, versus net income of $0.5 million, or $0.01 per share, last year.
- Human Health was hit by lower Rising sales, pricing pressure and $6.5 million of failure-to-supply charges, though nutritionals grew 11%.
- Pharmaceutical Ingredients and Performance Chemicals both posted year-over-year growth in sales, gross profit and gross margin.
- Management said Rising back orders fell from 20% of SKUs earlier in the year to under 4%, and still expects 15 to 20 generic launches in fiscal 2019.
Consolidated net sales were $164.4 million, down 11.3% from $185.3 million a year ago. Gross profit was $25.5 million versus $40.0 million, and gross margin was 15.5% versus 21.6%. The company reported a net loss of $21.1 million, or $0.59 per share, versus net income of $0.5 million, or $0.01 per share, in the prior-year quarter. Human Health sales were $80.8 million, down 23.7%, with gross profit of $8.5 million and gross margin of 10.5%; Pharmaceutical Ingredients sales were $38.8 million, up 6.2%, with gross profit up 18.1% to $6.9 million and gross margin of 17.7%; Performance Chemicals sales were $44.7 million, up 4.8%, with gross profit up 6.5% to $10.1 million and gross margin of 22.6%. Management said fiscal 2019 still calls for 15 to 20 generic launches and just under $8 million in R&D milestone payments. It also said first-half tariff impact is expected to be $70,000 to $90,000, and if tariffs rise to 25% on January 1, the second-half impact could be $850,000 to $3.7 million.
Bill Kennally framed the quarter as a mixed start: the company’s non-generic businesses are steady cash contributors, while Rising is still working through generic-industry headwinds. He emphasized that supply-chain fixes are now taking hold, saying failure-to-supply claims have fallen for the third consecutive quarter and back orders are down to under 4% of SKUs. He also said the Rising pipeline has been reorganized, with parked products being reactivated where possible, and described the business as being “poised and ready to return to growth.”
Becky Roof focused on the financial pressure from Rising, SG&A tied to the strategic review, and the balance sheet. She noted $6.5 million of failure-to-supply claims in the quarter, with $3 million re-billed to partners, and said Rising could potentially reverse up to $13.3 million of claims depending on negotiations. Cash, cash equivalents and short-term investments were $52.5 million at September 30, debt was $315.4 million, and cash used in operating activities was $46.4 million; she also said the company repaid $3.8 million in bank loans. She explained that inventory rose to $156.5 million because of Rising safety stock, API build ahead of later-quarter shipments, and Performance Chemicals inventory built ahead of potential tariff increases. Management said the strategic alternatives process is intended to retire debt and believes cash, liquid assets and operating cash flow, plus liquidity from that process, will fund working capital needs for the next 12 months.
Analysts pressed management on liquidity, the bank covenant, and whether the strategic alternatives process implies distress. Roof said the covenant is a liquidity test, not a pure cash covenant, and that the recent bank waiver was a sign of support; she also said management is not concerned about delisting at this point. Questions on Rising focused on failure-to-supply trends and pricing pressure; Kennally said volumes are up but pricing is down, with one large product hit by a competitor, and he said price declines are beginning to soften. Analysts also asked about the VA appeal and the Rising pipeline: Kennally said the government appealed the favorable ruling, but the company is rebuilding business with the VA and expects the lower court decision to be affirmed; he said recent ANDA approvals are “singles” and that new launches should begin contributing soon, though timing is uncertain.
The bullish case from this call is that the non-generic businesses are growing and generating steady cash, while Rising’s operational problems appear to be improving. Management said back orders are materially lower, failure-to-supply claims are trending down, and the inventory build is already helping sales. If the pipeline turns into launches as planned, and if the strategic process reduces debt, the company could see better profitability and a cleaner balance sheet.
The main bear case is that the quarter showed sharp consolidated declines, with lower gross margin, a net loss, and heavy cash usage. Rising still faces pricing pressure, competitive intensity, delayed launches, and unresolved failure-to-supply claims, while the company also carries $315.4 million of debt. Investors also flagged uncertainty around the length of the strategic alternatives process and the risk that tariff and working-capital pressures could continue to weigh on cash generation.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 87.8%
- Shares Outstanding
- 9.35M
- Float Shares
- 8.20M
of shares held by institutions
49 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Ra Capital Management, L.P. | 932.62K | ▼ 250.00K |
| Orbimed Advisors LLC | 844.79K | ▼ 183.16K |
| Franklin Resources Inc | 626.57K | 0 |
| Citadel Advisors LLC | 432.74K | ▲ 50.91K |
| Vanguard Capital Management LLC | 343.23K | ▲ 6.70K |
| Vanguard Group Inc | 291.28K | ▼ 2.98M |
| Adage Capital Partners Gp, L.L.C. | 274.38K | 0 |
| Renaissance Technologies LLC | 265.94K | ▲ 33.35K |
| Stonepine Capital Management, LLC | 245.52K | ▲ 23.56K |
| Alyeska Investment Group, L.P. | 203.80K | 0 |
| Schonfeld Strategic Advisors LLC | 195.51K | ▲ 195.51K |
| Carlyle Group Inc. | 184.29K | 0 |
Held by 28 ETFs
Biggest fund positions in ACET by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 5, 26 | Klickstein Lloyd | other | 18,300 |
| Jun 19, 26 | Schor Chen | other | 55,000 |
| Jun 19, 26 | Aftab Blake | other | 55,000 |
| Jun 21, 26 | DUBIN STEVE | other | 4,200 |
| Jun 21, 26 | Chodakewitz Jeffrey | other | 4,200 |
| Jun 21, 26 | Grissinger Michael | other | 4,200 |
| Jun 21, 26 | Sinclair Andrew | other | 4,200 |
| Jun 21, 26 | Peng Katie | other | 4,200 |
| Jun 21, 26 | Klickstein Lloyd | other | 4,200 |
| Apr 27, 26 | RA CAPITAL MANAGEMENT, L.P. | other | 250,000 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our ACET coverage
Recent articles, reports, and earnings notes.
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Adicet Bio's Prula-Cel Delivers 54% Lupus Remission Rate at 12 Months
marketbeat.com · Oct 2
Adicet Bio Reports Inducement Grant under Nasdaq Listing Rule 5635(c)(4)
businesswire.com · Sep 30
Adicet Bio, Inc. (ACET) Discusses Positive Prula-cel Data and Plans for Pivotal Study in Lupus Nephritis Transcript
seekingalpha.com · Sep 28
Adicet Bio Announces Positive Safety and Efficacy Data from Prula-cel (formerly ADI-001) Study in Patients with Systemic Lupus Erythematosus with or without Lupus Nephritis
businesswire.com · Sep 28
Adicet Bio to Host Webcast to Present Prula-cel (formerly ADI-001) Clinical Data in Patients with Systemic Lupus Erythematosus with or without Lupus Nephritis
businesswire.com · Sep 25
Wall Street Analysts See a 258.21% Upside in Adicet Bio (ACET): Can the Stock Really Move This High?
zacks.com · Sep 3
Is Adicet Bio (ACET) Outperforming Other Medical Stocks This Year?
zacks.com · Sep 3
Adicet Bio to Participate in Fireside Chat at H.C. Wainwright 28th Annual Global Investment Conference
businesswire.com · Sep 2
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