Adicet Bio, Inc. (NASDAQ:ACET) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its position in shares of Adicet Bio, Inc. (NASDAQ:ACET) by 14.5% in the third quarter, Holdings Channel reports. The institutional investor owned 768,566 shares of the company’s stock after acquiring an additional 97,567 shares during the quarter. Geode Capital Management LLC’s holdings in Adicet Bio were worth $1,107,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 DIFC Ltd lifted its holdings in Adicet Bio by 77.5% in the second quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after acquiring an additional 14,596 shares during the last quarter. Marshall Wace LLP purchased a new stake in Adicet Bio in the second quarter valued at $43,000. GSA Capital Partners LLP lifted its stake in shares of Adicet Bio by 161.3% in the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock valued at $56,000 after purchasing an additional 24,203 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Adicet Bio during the 2nd quarter worth $62,000. Finally, Castleview Partners LLC purchased a new position in shares of Adicet Bio during the 3rd quarter worth $75,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Guggenheim assumed coverage on shares of Adicet Bio in a research report on Monday, September 30th. They issued a “buy” rating and a $7.00 target price on the stock. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a report on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a report on Thursday, December 19th. Finally, StockNews.com lowered Adicet Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.50.

Adicet Bio Price Performance

Shares of NASDAQ:ACET opened at $0.96 on Friday. The firm has a market capitalization of $79.10 million, a PE ratio of -0.56 and a beta of 1.87. Adicet Bio, Inc. has a 1 year low of $0.81 and a 1 year high of $3.77. The firm’s 50-day moving average is $1.03 and its two-hundred day moving average is $1.27.

Adicet Bio (NASDAQ:ACET) last announced its earnings results on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, hitting the consensus estimate of ($0.34). Analysts expect that Adicet Bio, Inc. will post -1.39 EPS for the current fiscal year.

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.