Key Points
- Ra Capital Management bought 74,577 shares of Adicet Bio on Feb 18 at $7.04 (about $525k) and made additional purchases on Feb 19–20, totaling roughly 223,596 shares (~$1.6M), bringing its holdings to 1,033,605 shares (a reported 7.78% increase in ownership).
- ACET is trading lower (opened $6.35, down ~6.1%) with a 50-day average of $7.02, a 200-day average of $9.19, a market cap of about $60.9M and negative earnings; its 52-week range is $6.01–$17.44.
- Analyst sentiment is mixed but leans positive with a MarketBeat consensus of "Moderate Buy" and a consensus target of $56.25, while institutional ownership is high at about 83.9% and several hedge funds have recently adjusted stakes.
Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) major shareholder Ra Capital Management, L.P. acquired 74,577 shares of the company's stock in a transaction that occurred on Wednesday, February 18th. The stock was purchased at an average cost of $7.04 per share, for a total transaction of $525,022.08. Following the acquisition, the insider owned 1,033,605 shares in the company, valued at approximately $7,276,579.20. This trade represents a 7.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Ra Capital Management, L.P. also recently made the following trade(s):
- On Friday, February 20th, Ra Capital Management, L.P. acquired 74,751 shares of Adicet Bio stock. The stock was purchased at an average price of $7.27 per share, for a total transaction of $543,439.77.
- On Thursday, February 19th, Ra Capital Management, L.P. bought 74,268 shares of Adicet Bio stock. The shares were purchased at an average cost of $7.21 per share, with a total value of $535,472.28.
Adicet Bio Trading Down 6.1%
NASDAQ ACET opened at $6.35 on Tuesday. The company has a 50-day moving average price of $7.02 and a two-hundred day moving average price of $9.19. Adicet Bio, Inc. has a 52 week low of $6.01 and a 52 week high of $17.44. The stock has a market cap of $60.93 million, a price-to-earnings ratio of -0.35 and a beta of 1.57.
Adicet Bio (NASDAQ:ACET - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported ($2.94) earnings per share for the quarter, beating analysts' consensus estimates of ($3.23) by $0.29. As a group, equities research analysts expect that Adicet Bio, Inc. will post -1.39 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages have issued reports on ACET. HC Wainwright reduced their price target on Adicet Bio from $50.00 to $27.00 and set a "buy" rating for the company in a research report on Monday, March 23rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Adicet Bio in a report on Tuesday, January 27th. Truist Financial upgraded shares of Adicet Bio to a "strong-buy" rating in a research note on Wednesday, March 25th. Guggenheim reduced their price objective on shares of Adicet Bio from $128.00 to $100.00 and set a "buy" rating for the company in a report on Friday, March 13th. Finally, Canaccord Genuity Group set a $18.00 target price on shares of Adicet Bio and gave the company a "buy" rating in a research report on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Adicet Bio currently has an average rating of "Moderate Buy" and a consensus target price of $56.25.
Check Out Our Latest Analysis on ACET
Hedge Funds Weigh In On Adicet Bio
Several large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its stake in shares of Adicet Bio by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company's stock worth $2,882,000 after purchasing an additional 63,691 shares during the last quarter. Two Sigma Investments LP lifted its stake in Adicet Bio by 66.6% during the third quarter. Two Sigma Investments LP now owns 854,568 shares of the company's stock valued at $692,000 after purchasing an additional 341,761 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Adicet Bio during the fourth quarter valued at approximately $5,276,000. Citadel Advisors LLC boosted its holdings in Adicet Bio by 19.8% during the third quarter. Citadel Advisors LLC now owns 583,948 shares of the company's stock worth $473,000 after buying an additional 96,342 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Adicet Bio during the fourth quarter worth approximately $2,310,000. Institutional investors own 83.89% of the company's stock.
About Adicet Bio
(
Get Free Report)
Adicet Bio, Inc (NASDAQ: ACET) is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company's proprietary platform enables the genetic engineering of γδ T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of γδ T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.
Adicet's lead product candidate, ADI-001, is a CAR‐engineered allogeneic γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.
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