Insider Buying: Adicet Bio (NASDAQ:ACET) Major Shareholder Purchases 74,751 Shares of Stock

Adicet Bio, Inc. (NASDAQ:ACET) major shareholder Ra Capital Management, L.P. acquired 74,751 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was acquired at an average price of $7.27 per share, for a total transaction of $543,439.77. Following the transaction, the insider directly owned 1,182,624 shares of the company’s stock, valued at $8,597,676.48. This represents a 6.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Ra Capital Management, L.P. also recently made the following trade(s):

• On Thursday, February 19th, Ra Capital Management, L.P. acquired 74,268 shares of Adicet Bio stock. The stock was acquired at an average price of $7.21 per share, for a total transaction of $535,472.28.
• On Wednesday, February 18th, Ra Capital Management, L.P. acquired 74,577 shares of Adicet Bio stock. The stock was acquired at an average price of $7.04 per share, for a total transaction of $525,022.08.

Adicet Bio Stock Down 6.1%

Shares of ACET stock traded down $0.41 on Monday, reaching $6.35. The company’s stock had a trading volume of 197,799 shares, compared to its average volume of 159,737. Adicet Bio, Inc. has a 12-month low of $6.01 and a 12-month high of $17.44. The company has a market capitalization of $60.96 million, a P/E ratio of -0.35 and a beta of 1.57. The stock’s 50 day simple moving average is $7.05 and its 200-day simple moving average is $9.24.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($2.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.23) by $0.29. Research analysts expect that Adicet Bio, Inc. will post -1.39 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a research report on Tuesday, January 27th. HC Wainwright dropped their target price on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Truist Financial upgraded shares of Adicet Bio to a “strong-buy” rating in a research report on Wednesday, March 25th. Canaccord Genuity Group set a $18.00 target price on shares of Adicet Bio and gave the company a “buy” rating in a research report on Tuesday, January 6th. Finally, Guggenheim dropped their target price on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Adicet Bio has an average rating of “Moderate Buy” and an average price target of $56.25.

Institutional Investors Weigh In On Adicet Bio

Hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new stake in Adicet Bio during the fourth quarter valued at approximately $51,000. Maven Securities LTD purchased a new stake in shares of Adicet Bio in the 4th quarter valued at $263,000. Susquehanna International Group LLP bought a new position in shares of Adicet Bio during the 3rd quarter valued at $33,000. Squarepoint Ops LLC bought a new position in shares of Adicet Bio during the 3rd quarter valued at $38,000. Finally, Luminus Management LLC purchased a new position in Adicet Bio in the 4th quarter worth $501,000. 83.89% of the stock is currently owned by institutional investors.

Adicet Bio Company Profile

Adicet Bio, Inc (NASDAQ: ACET) is a clinical?stage biotechnology company specializing in the development of off?the?shelf, allogeneic gamma delta (??) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of ?? T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of ?? T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.

Adicet’s lead product candidate, ADI-001, is a CAR?engineered allogeneic ?? T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.