AQR Capital Management LLC Has $165,000 Holdings in Adicet Bio, Inc. (NASDAQ:ACET)

AQR Capital Management LLC raised its position in Adicet Bio, Inc. (NASDAQ:ACET) by 478.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 136,765 shares of the company’s stock after acquiring an additional 113,115 shares during the period. AQR Capital Management LLC owned approximately 0.17% of Adicet Bio worth $165,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

ACET has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a report on Friday, September 20th. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a report on Wednesday. Guggenheim assumed coverage on Adicet Bio in a report on Monday, September 30th. They set a “buy” rating and a $7.00 price target on the stock. Canaccord Genuity Group dropped their price target on Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, StockNews.com upgraded Adicet Bio from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Adicet Bio Price Performance

NASDAQ:ACET opened at $1.45 on Friday. The business has a fifty day simple moving average of $1.45 and a two-hundred day simple moving average of $1.51. 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 $119.48 million, a P/E ratio of -0.57 and a beta of 1.79.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.03. As a group, analysts anticipate that Adicet Bio, Inc. will post -1.41 earnings per share for the current year.

About Adicet Bio

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.