Point72 DIFC Ltd Boosts Stock Position in Adicet Bio, Inc. (NASDAQ:ACET)

Point72 DIFC Ltd lifted its position in Adicet Bio, Inc. (NASDAQ:ACET) by 77.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,441 shares of the company’s stock after purchasing an additional 14,596 shares during the quarter. Point72 DIFC Ltd’s holdings in Adicet Bio were worth $40,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ACET. RA Capital Management L.P. acquired a new position in Adicet Bio in the 1st quarter worth approximately $17,721,000. Vanguard Group Inc. increased its stake in shares of Adicet Bio by 85.5% in the first quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after acquiring an additional 1,441,503 shares during the period. Blackstone Inc. purchased a new position in shares of Adicet Bio during the first quarter worth $2,906,000. Carlyle Group Inc. lifted its position in Adicet Bio by 39.4% during the first quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock valued at $6,900,000 after purchasing an additional 833,333 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in Adicet Bio by 205.4% in the second quarter. Acadian Asset Management LLC now owns 1,085,093 shares of the company’s stock valued at $1,312,000 after purchasing an additional 729,750 shares during the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.

Adicet Bio Price Performance

Shares of ACET stock opened at $1.42 on Friday. Adicet Bio, Inc. has a 1-year low of $1.05 and a 1-year high of $3.77. The company has a market cap of $117.01 million, a price-to-earnings ratio of -0.48 and a beta of 1.79. The stock has a 50 day simple moving average of $1.46 and a 200-day simple moving average of $1.57.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.03. Analysts anticipate that Adicet Bio, Inc. will post -1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wedbush reiterated an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a research note on Friday, September 20th. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a report on Monday. Canaccord Genuity Group lowered their price objective on Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Finally, Guggenheim assumed coverage on shares of Adicet Bio in a report on Monday. They set a “buy” rating and a $7.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Adicet Bio presently has a consensus rating of “Hold” and an average price target of $7.50.

Adicet Bio Company 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.