Adicet Bio, Inc. (NASDAQ:ACET) Stake Reduced by State Street Corp

State Street Corp trimmed its stake in Adicet Bio, Inc. (NASDAQ:ACET) by 6.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 229,721 shares of the company’s stock after selling 15,100 shares during the quarter. State Street Corp owned approximately 0.28% of Adicet Bio worth $331,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ACET. Renaissance Technologies LLC lifted its position in Adicet Bio by 44.2% in the 2nd 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 during the last quarter. Acadian Asset Management LLC increased its stake in shares of Adicet Bio by 205.4% in the second quarter. Acadian Asset Management LLC now owns 1,085,093 shares of the company’s stock valued at $1,312,000 after purchasing an additional 729,750 shares during the period. Stonepine Capital Management LLC raised its holdings in shares of Adicet Bio by 330.6% during the second quarter. Stonepine Capital Management LLC now owns 609,446 shares of the company’s stock valued at $737,000 after buying an additional 467,898 shares during the last quarter. RBF Capital LLC boosted its position in shares of Adicet Bio by 62.5% during the third quarter. RBF Capital LLC now owns 601,135 shares of the company’s stock worth $866,000 after buying an additional 231,135 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in Adicet Bio by 790.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 409,049 shares of the company’s stock worth $495,000 after buying an additional 363,095 shares in the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.

Adicet Bio Price Performance

NASDAQ ACET opened at $0.99 on Friday. The company has a market capitalization of $81.80 million, a P/E ratio of -0.58 and a beta of 1.88. Adicet Bio, Inc. has a 12 month low of $0.81 and a 12 month high of $3.77. The company’s 50 day simple moving average is $1.06 and its 200 day simple moving average is $1.28.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, meeting analysts’ consensus estimates of ($0.34). On average, analysts anticipate that Adicet Bio, Inc. will post -1.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACET has been the topic of several recent analyst reports. Guggenheim began coverage on Adicet Bio in a research note on Monday, September 30th. They set a “buy” rating and a $7.00 target price on the stock. HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a report on Thursday, December 19th. Canaccord Genuity Group lowered their target price on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research note on Thursday, November 7th. Finally, StockNews.com downgraded Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One equities 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 MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.50.

Adicet Bio 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.