Adicet Bio (NASDAQ:ACET) Major Shareholder Ra Capital Management, L.P. Purchases 74,268 Shares

Adicet Bio, Inc. (NASDAQ:ACET) major shareholder Ra Capital Management, L.P. acquired 74,268 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were purchased at an average cost of $7.21 per share, for a total transaction of $535,472.28. Following the acquisition, the insider owned 1,107,873 shares in the company, valued at $7,987,764.33. This represents a 7.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 shares were purchased at an average price of $7.27 per share, for a total transaction of $543,439.77.
• On Wednesday, February 18th, Ra Capital Management, L.P. bought 74,577 shares of Adicet Bio stock. The stock was purchased at an average cost of $7.04 per share, with a total value of $525,022.08.

Adicet Bio Trading Down 6.1%

Adicet Bio stock opened at $6.35 on Tuesday. The stock 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 12 month low of $6.01 and a 12 month high of $17.44. The company has a market capitalization of $60.93 million, a PE ratio of -0.35 and a beta of 1.57.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Adicet Bio

Hedge funds have recently bought and sold shares of the company. Luminus Management LLC acquired a new position in Adicet Bio in the fourth quarter valued at $501,000. ADAR1 Capital Management LLC acquired a new stake in Adicet Bio during the 4th quarter worth about $1,083,000. Burkehill Global Management LP acquired a new stake in Adicet Bio during the 4th quarter worth about $526,000. Adage Capital Partners GP L.L.C. bought a new position in shares of Adicet Bio in the 4th quarter worth about $2,310,000. Finally, Squarepoint Ops LLC raised its position in shares of Adicet Bio by 20.0% in the 4th quarter. Squarepoint Ops LLC now owns 55,723 shares of the company’s stock worth $469,000 after acquiring an additional 9,296 shares in the last quarter. Institutional investors own 83.89% of the company’s stock.

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.