Acadian Asset Management LLC increased its position in shares of Adicet Bio, Inc. (NASDAQ:ACET – Free Report) by 205.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,085,093 shares of the company’s stock after acquiring an additional 729,750 shares during the period. Acadian Asset Management LLC owned about 1.32% of Adicet Bio worth $1,312,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Adicet Bio during the 1st quarter worth about $28,000. Price T Rowe Associates Inc. MD purchased a new position in Adicet Bio during the 1st quarter worth approximately $37,000. American International Group Inc. grew its stake in Adicet Bio by 74.2% during the 1st quarter. American International Group Inc. now owns 26,319 shares of the company’s stock worth $62,000 after buying an additional 11,214 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Adicet Bio during the 1st quarter worth approximately $90,000. Finally, Panagora Asset Management Inc. acquired a new stake in Adicet Bio during the 4th quarter worth approximately $98,000. Institutional investors and hedge funds own 83.89% of the company’s stock.
Adicet Bio Trading Down 2.6 %
Shares of NASDAQ ACET opened at $1.49 on Monday. The stock has a 50 day simple moving average of $1.41 and a 200-day simple moving average of $1.65. The company has a market cap of $122.78 million, a PE ratio of -0.51 and a beta of 1.79. Adicet Bio, Inc. has a 12-month low of $1.05 and a 12-month high of $3.77.
Wall Street Analyst Weigh In
Several analysts have recently commented on ACET shares. StockNews.com cut Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Wedbush reissued an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a research report on Tuesday, September 10th. HC Wainwright downgraded Adicet Bio from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 11th. Finally, Canaccord Genuity Group reduced their target price on Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th.
Check Out Our Latest Research Report on ACET
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.
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