Cubist Systematic Strategies LLC Boosts Holdings in Adicet Bio, Inc. (NASDAQ:ACET)

Cubist Systematic Strategies LLC increased its holdings in Adicet Bio, Inc. (NASDAQ:ACET) by 790.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 409,049 shares of the company’s stock after purchasing an additional 363,095 shares during the period. Cubist Systematic Strategies LLC owned 0.50% of Adicet Bio worth $495,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in Adicet Bio in the 2nd quarter worth approximately $62,000. Stonepine Capital Management LLC raised its holdings in shares of Adicet Bio by 330.6% during the 2nd quarter. Stonepine Capital Management LLC now owns 609,446 shares of the company’s stock worth $737,000 after acquiring an additional 467,898 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Adicet Bio by 478.3% during the 2nd quarter. AQR Capital Management LLC now owns 136,765 shares of the company’s stock worth $165,000 after acquiring an additional 113,115 shares in the last quarter. Squarepoint Ops LLC raised its holdings in shares of Adicet Bio by 2,728.8% during the 2nd quarter. Squarepoint Ops LLC now owns 362,230 shares of the company’s stock worth $438,000 after acquiring an additional 349,425 shares in the last quarter. Finally, Point72 DIFC Ltd raised its holdings in shares of Adicet Bio by 77.5% during the 2nd quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock worth $40,000 after acquiring an additional 14,596 shares in the last quarter. 83.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ACET. Wedbush reaffirmed an “outperform” rating and set a $5.00 price objective on shares of Adicet Bio in a report on Friday, September 20th. StockNews.com raised Adicet Bio from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Canaccord Genuity Group decreased their price objective on Adicet Bio from $19.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Guggenheim assumed coverage on Adicet Bio in a report on Monday, September 30th. They set a “buy” rating and a $7.00 price objective on the stock. Finally, HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research report on Monday, September 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Adicet Bio Stock Performance

NASDAQ ACET opened at $1.39 on Friday. The company has a market cap of $114.54 million, a P/E ratio of -0.55 and a beta of 1.79. The business’s 50 day moving average price is $1.44 and its 200-day moving average price is $1.54. Adicet Bio, Inc. has a fifty-two week low of $1.05 and a fifty-two week high of $3.77.

Adicet Bio (NASDAQ:ACET) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.03. As a group, equities analysts predict that Adicet Bio, Inc. will post -1.41 EPS for the current year.

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.