Northern Trust Corp Acquires 28,153 Shares of Adicet Bio, Inc. (NASDAQ:ACET)

Northern Trust Corp raised its holdings in Adicet Bio, Inc. (NASDAQ:ACET) by 25.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 140,369 shares of the company’s stock after purchasing an additional 28,153 shares during the period. Northern Trust Corp owned approximately 0.17% of Adicet Bio worth $135,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ACET. Virtu Financial LLC bought a new stake in Adicet Bio in the 4th quarter valued at about $29,000. JPMorgan Chase & Co. lifted its holdings in shares of Adicet Bio by 87.3% during the 4th 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. Norges Bank bought a new stake in shares of Adicet Bio during the 4th quarter worth approximately $413,000. Finally, Regeneron Pharmaceuticals Inc. bought a new stake in shares of Adicet Bio during the 4th quarter worth approximately $931,000. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Price Performance

ACET stock opened at $0.78 on Wednesday. The company has a 50 day simple moving average of $0.64 and a 200 day simple moving average of $0.83. The stock has a market cap of $64.51 million, a price-to-earnings ratio of -0.46 and a beta of 1.76. Adicet Bio, Inc. has a 1 year low of $0.45 and a 1 year high of $1.70.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.03. On average, equities research analysts anticipate that Adicet Bio, Inc. will post -1.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ACET shares. Guggenheim reaffirmed a “buy” rating and set a $7.00 price target on shares of Adicet Bio in a report on Friday, March 21st. JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. Wall Street Zen initiated coverage on shares of Adicet Bio in a research report on Friday, May 16th. They set a “hold” rating for the company. Finally, HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.