50,888 Shares in Adicet Bio, Inc. (NASDAQ:ACET) Purchased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Adicet Bio, Inc. (NASDAQ:ACET) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 50,888 shares of the company’s stock, valued at approximately $62,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.06% of Adicet Bio at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACET. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Adicet Bio during the 1st quarter worth about $28,000. Carlyle Group Inc. raised its stake in shares of Adicet Bio by 39.4% during the 1st quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock worth $6,900,000 after purchasing an additional 833,333 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Adicet Bio by 85.5% during the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after purchasing an additional 1,441,503 shares in the last quarter. American International Group Inc. increased its holdings in shares of Adicet Bio by 74.2% during the 1st quarter. American International Group Inc. now owns 26,319 shares of the company’s stock valued at $62,000 after acquiring an additional 11,214 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Adicet Bio during the 1st quarter valued at about $37,000. 83.89% of the stock is owned by hedge funds and other institutional investors.

Adicet Bio Price Performance

ACET opened at $1.42 on Friday. The firm has a market capitalization of $116.69 million, a P/E ratio of -0.48 and a beta of 1.79. The stock’s 50 day moving average price is $1.45 and its two-hundred day moving average price is $1.57. Adicet Bio, Inc. has a 12-month low of $1.05 and a 12-month high of $3.77.

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

Analyst Ratings Changes

A number of brokerages have recently commented on ACET. StockNews.com lowered Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Guggenheim began coverage on Adicet Bio in a report on Monday, September 30th. They set a “buy” rating and a $7.00 price objective on the stock. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a report on Monday, September 30th. Wedbush reissued an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a report on Friday, September 20th. Finally, Canaccord Genuity Group lowered their price objective on Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.50.

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.