Geode Capital Management LLC Increases Position in Adicet Bio, Inc. (NASDAQ:ACET)

Geode Capital Management LLC boosted its holdings in shares of Adicet Bio, Inc. (NASDAQ:ACET) by 14.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 768,566 shares of the company’s stock after purchasing an additional 97,567 shares during the quarter. Geode Capital Management LLC owned approximately 0.93% of Adicet Bio worth $1,107,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Point72 DIFC Ltd raised its stake in shares of Adicet Bio by 77.5% during the 2nd quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock worth $40,000 after buying an additional 14,596 shares during the period. Marshall Wace LLP acquired a new position in Adicet Bio during the second quarter worth $43,000. GSA Capital Partners LLP lifted its holdings in Adicet Bio by 161.3% during the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after purchasing an additional 24,203 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Adicet Bio in the second quarter valued at about $62,000. Finally, Castleview Partners LLC acquired a new stake in shares of Adicet Bio in the third quarter valued at about $75,000. 83.89% of the stock is owned by institutional investors and hedge funds.

Adicet Bio Price Performance

ACET opened at $0.96 on Friday. The firm has a market capitalization of $79.10 million, a price-to-earnings ratio of -0.56 and a beta of 1.87. The company’s 50 day simple moving average is $1.03 and its two-hundred day simple moving average is $1.27. Adicet Bio, Inc. has a 1-year low of $0.81 and a 1-year high of $3.77.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACET. HC Wainwright reaffirmed a “neutral” rating on shares of Adicet Bio in a research note on Thursday, December 19th. StockNews.com downgraded Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. Guggenheim assumed coverage on Adicet Bio in a research note on Monday, September 30th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Adicet Bio has an average rating of “Hold” and an average target price of $7.50.

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.