Renaissance Technologies LLC Has $882,000 Holdings in Adicet Bio, Inc. (NASDAQ:ACET)

Renaissance Technologies LLC cut its holdings in shares of Adicet Bio, Inc. (NASDAQ:ACET) by 25.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 916,500 shares of the company’s stock after selling 315,100 shares during the period. Renaissance Technologies LLC owned approximately 1.11% of Adicet Bio worth $882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ACET. Regeneron Pharmaceuticals Inc. acquired a new position in shares of Adicet Bio in the 4th quarter valued at approximately $931,000. Geode Capital Management LLC boosted its holdings in shares of Adicet Bio by 14.5% in the third quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock valued at $1,107,000 after buying an additional 97,567 shares during the period. Norges Bank bought a new stake in shares of Adicet Bio during the fourth quarter worth $413,000. JPMorgan Chase & Co. raised its holdings in shares of Adicet Bio by 87.3% during the fourth quarter. JPMorgan Chase & Co. now owns 150,485 shares of the company’s stock worth $145,000 after acquiring an additional 70,132 shares during the period. Finally, Virtu Financial LLC bought a new stake in Adicet Bio in the 4th quarter valued at $29,000. 83.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ACET has been the topic of several recent research reports. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research note on Friday, March 7th. StockNews.com raised Adicet Bio from a “sell” rating to a “hold” rating in a research report on Monday. JMP Securities reaffirmed a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. Finally, Guggenheim reiterated a “buy” rating and issued a $7.00 price objective on shares of Adicet Bio in a report on Friday, March 21st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Adicet Bio Stock Performance

Shares of NASDAQ ACET opened at $0.63 on Friday. The stock has a 50 day moving average price of $0.71 and a 200 day moving average price of $0.94. The stock has a market capitalization of $52.09 million, a PE ratio of -0.37 and a beta of 1.99. Adicet Bio, Inc. has a 52 week low of $0.45 and a 52 week high of $1.87.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.05. As a group, research analysts forecast that Adicet Bio, Inc. will post -1.39 EPS for the current year.

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.