Adicet Bio (NASDAQ:ACET) Major Shareholder Ra Capital Management, L.P. Acquires 74,577 Shares of Stock

Adicet Bio, Inc. (NASDAQ:ACET) major shareholder Ra Capital Management, L.P. acquired 74,577 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was purchased at an average cost of $7.04 per share, with a total value of $525,022.08. Following the completion of the transaction, the insider owned 1,033,605 shares in the company, valued at $7,276,579.20. The trade was a 7.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares 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. bought 74,751 shares of Adicet Bio stock. The shares were acquired at an average cost of $7.27 per share, for a total transaction of $543,439.77.
• On Thursday, February 19th, Ra Capital Management, L.P. purchased 74,268 shares of Adicet Bio stock. The stock was acquired at an average price of $7.21 per share, for a total transaction of $535,472.28.

Adicet Bio Stock Performance

Shares of ACET opened at $6.35 on Tuesday. The company has a market capitalization of $60.93 million, a P/E ratio of -0.35 and a beta of 1.57. Adicet Bio, Inc. has a one year low of $6.01 and a one year high of $17.44. The stock has a 50-day moving average price of $7.02 and a 200 day moving average price of $9.19.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($2.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.23) by $0.29. As a group, equities research analysts forecast that Adicet Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. HC Wainwright dropped their price target on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. Truist Financial raised shares of Adicet Bio to a “strong-buy” rating in a report on Wednesday, March 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research report on Tuesday, January 27th. Canaccord Genuity Group set a $18.00 target price on shares of Adicet Bio and gave the company a “buy” rating in a research note on Tuesday, January 6th. Finally, Guggenheim reduced their price target on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.25.

Institutional Trading of Adicet Bio

Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its holdings 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. Squarepoint Ops LLC bought a new position in Adicet Bio during the 3rd quarter worth $38,000. Two Sigma Investments LP increased its position in Adicet Bio by 66.6% in the third quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock worth $692,000 after buying an additional 341,761 shares during the period. Virtu Financial LLC acquired a new stake in Adicet Bio in the third quarter worth $65,000. Finally, Citadel Advisors LLC lifted its stake in Adicet Bio by 19.8% in the third quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock valued at $473,000 after buying an additional 96,342 shares during the last quarter. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Adicet Bio Company Profile

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.