Stonepine Capital Management LLC Has $737,000 Holdings in Adicet Bio, Inc. (NASDAQ:ACET)

Stonepine Capital Management LLC lifted its stake in Adicet Bio, Inc. (NASDAQ:ACET) by 330.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 609,446 shares of the company’s stock after purchasing an additional 467,898 shares during the period. Adicet Bio accounts for approximately 0.7% of Stonepine Capital Management LLC’s holdings, making the stock its 17th largest holding. Stonepine Capital Management LLC owned about 0.74% of Adicet Bio worth $737,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RA Capital Management L.P. bought a new position in Adicet Bio in the first quarter valued at approximately $17,721,000. Vanguard Group Inc. increased its position in Adicet Bio by 85.5% during the first quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after buying an additional 1,441,503 shares during the last quarter. Carlyle Group Inc. increased its holdings in shares of Adicet Bio by 39.4% in the first quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock valued at $6,900,000 after purchasing an additional 833,333 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Adicet Bio by 44.2% during the second quarter. Renaissance Technologies LLC now owns 1,512,600 shares of the company’s stock worth $1,830,000 after purchasing an additional 463,600 shares during the period. Finally, Blackstone Inc. acquired a new stake in Adicet Bio during the 1st quarter worth approximately $2,906,000. Institutional investors own 83.89% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ACET. StockNews.com lowered Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Canaccord Genuity Group lowered their price target on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Guggenheim started coverage on Adicet Bio in a report on Monday. They issued a “buy” rating and a $7.00 price objective for the company. HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a research report on Monday. Finally, Wedbush restated an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Adicet Bio currently has an average rating of “Hold” and a consensus target price of $7.50.

Adicet Bio Price Performance

Adicet Bio stock opened at $1.44 on Tuesday. The business has a 50 day moving average of $1.46 and a 200-day moving average of $1.58. Adicet Bio, Inc. has a 1 year low of $1.05 and a 1 year high of $3.77. The company has a market capitalization of $118.66 million, a P/E ratio of -0.49 and a beta of 1.79.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.03. Equities analysts anticipate that Adicet Bio, Inc. will post -1.35 EPS for the current year.

Adicet Bio Company Profile

Adicet Bio, Inc, a clinical stage biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. The company offers gamma delta T cells engineered with chimeric antigen receptors (CARs) to facilitate durable activity in patients. Its lead product candidate is ADI-001, an allogeneic gamma delta T cell therapy expressing a CAR targeting CD20, which is in Phase I clinical trial for the treatment of autoimmune diseases and relapsed or refractory aggressive B cell non-Hodgkin's lymphoma.