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Adicet Bio, Inc. (ACET) Surges 6.8%: Is This an Indication of Further Gains?

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Adicet Bio, Inc. (ACET - Free Report) shares ended the last trading session 6.8% higher at $14.65. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 27.6% loss over the past four weeks.

Earlier this month, the company announced that the FDA has granted Fast Track Designation to its lead program ADI-001 for the potential treatment of relapsed or refractory B-cell non-Hodgkin’s lymphoma. This might have been driving the share price rally.

This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +91.5%. Revenues are expected to be $13.74 million, up 445.3% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Adicet Bio, Inc., the consensus EPS estimate for the quarter has been revised 2.5% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on ACET going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Adicet Bio, Inc. belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, TFF Pharmaceuticals, Inc. (TFFP - Free Report) , closed the last trading session 1.8% lower at $5.01. Over the past month, TFFP has returned -21.1%.

TFF Pharmaceuticals, Inc.'s consensus EPS estimate for the upcoming report has changed -1.4% over the past month to -$0.38. Compared to the company's year-ago EPS, this represents a change of -15.2%. TFF Pharmaceuticals, Inc. currently boasts a Zacks Rank of #4 (Sell).

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