Adicet Bio, Inc. (NASDAQ:ACET) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its position in Adicet Bio, Inc. (NASDAQ:ACET) by 53.3% during the third quarter, HoldingsChannel.com reports. The fund owned 18,074 shares of the company’s stock after selling 20,605 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Adicet Bio were worth $26,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new position in Adicet Bio in the 1st quarter valued at $37,000. American International Group Inc. lifted its stake in Adicet Bio by 74.2% in the 1st quarter. American International Group Inc. now owns 26,319 shares of the company’s stock worth $62,000 after purchasing an additional 11,214 shares in the last quarter. Point72 DIFC Ltd boosted 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 purchasing an additional 14,596 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Adicet Bio in the second quarter valued at approximately $43,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Adicet Bio in the first quarter valued at approximately $90,000. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ACET has been the topic of several analyst reports. StockNews.com lowered Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday. Canaccord Genuity Group decreased their target price 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. Guggenheim began coverage on shares of Adicet Bio in a research note on Monday, September 30th. They issued a “buy” rating and a $7.00 price target for the company. Wedbush reaffirmed an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a research report on Thursday, November 7th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research report on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $7.50.

Adicet Bio Stock Performance

Adicet Bio stock opened at $1.03 on Wednesday. The company’s 50 day simple moving average is $1.37 and its 200-day simple moving average is $1.40. Adicet Bio, Inc. has a 1 year low of $0.93 and a 1 year high of $3.77. The company has a market capitalization of $84.87 million, a price-to-earnings ratio of -0.60 and a beta of 1.81.

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