Regeneron Pharmaceuticals Inc. Purchases Shares of 60,511 Adicet Bio, Inc. $ACET

Regeneron Pharmaceuticals Inc. purchased a new position in Adicet Bio, Inc. (NASDAQ:ACET) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 60,511 shares of the company’s stock, valued at approximately $522,819. Adicet Bio comprises 0.0% of Regeneron Pharmaceuticals Inc.’s investment portfolio, making the stock its 3rd largest position. Regeneron Pharmaceuticals Inc. owned 0.65% of Adicet Bio at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC acquired a new stake in shares of Adicet Bio during the first quarter worth approximately $26,000. Dimensional Fund Advisors LP bought a new position in shares of Adicet Bio during the 1st quarter worth approximately $73,000. Johnson & Johnson bought a new stake in Adicet Bio in the 2nd quarter worth about $196,811. Maven Securities LTD bought a new stake in shares of Adicet Bio during the 4th quarter valued at $263,000. Finally, Susquehanna International Group LLP purchased a new position in Adicet Bio in the 3rd quarter worth approximately $33,000. 83.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wall Street Zen raised Adicet Bio from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Jefferies Financial Group assumed coverage on Adicet Bio in a report on Tuesday, May 5th. They set a “buy” rating and a $19.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a report on Friday, August 21st. Finally, Guggenheim reiterated a “buy” rating and set a $90.00 price target (down from $100.00) on shares of Adicet Bio in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.80.

Adicet Bio Trading Down 1.1%

Shares of Adicet Bio stock traded down $0.10 on Friday, hitting $8.91. The stock had a trading volume of 52,623 shares, compared to its average volume of 126,031. The stock has a market cap of $83.40 million, a price-to-earnings ratio of -0.78 and a beta of 1.60. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. Adicet Bio, Inc. has a one year low of $6.01 and a one year high of $17.44. The stock’s 50-day simple moving average is $8.60 and its two-hundred day simple moving average is $7.89.

Adicet Bio (NASDAQ:ACET) last announced its earnings results on Wednesday, August 5th. The company reported ($1.99) earnings per share for the quarter, missing the consensus estimate of ($1.69) by ($0.30). As a group, sell-side analysts predict that Adicet Bio, Inc. will post -6.76 EPS for the current year.

About Adicet Bio

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.