Millennium Management LLC Cuts Stake in Adicet Bio, Inc. (NASDAQ:ACET)

Millennium Management LLC lessened its holdings in Adicet Bio, Inc. (NASDAQ:ACET) by 11.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,621,670 shares of the company’s stock after selling 484,500 shares during the period. Millennium Management LLC owned approximately 4.41% of Adicet Bio worth $4,382,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. RA Capital Management L.P. acquired a new position in Adicet Bio during the 1st quarter worth $17,721,000. Vanguard Group Inc. grew its position in shares of Adicet Bio by 85.5% during the first quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after buying an additional 1,441,503 shares in the last quarter. Blackstone Inc. purchased a new stake in shares of Adicet Bio during the first quarter worth approximately $2,906,000. Carlyle Group Inc. raised its holdings in Adicet Bio by 39.4% in the first quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock valued at $6,900,000 after acquiring an additional 833,333 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake 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 worth $1,312,000 after acquiring an additional 729,750 shares during the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Stock Down 0.7 %

NASDAQ ACET opened at $1.39 on Friday. The firm’s fifty day moving average price is $1.44 and its 200 day moving average price is $1.54. Adicet Bio, Inc. has a 12 month low of $1.05 and a 12 month high of $3.77.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Tuesday, August 13th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.03. Equities analysts anticipate that Adicet Bio, Inc. will post -1.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ACET shares. Guggenheim began coverage on shares of Adicet Bio in a report on Monday, September 30th. They issued a “buy” rating and a $7.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a report on Friday, September 20th. HC Wainwright restated a “neutral” rating on shares of Adicet Bio in a report on Monday, September 30th. StockNews.com upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Finally, Canaccord Genuity Group reduced their price objective on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.50.

About Adicet Bio

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.