Regeneron Pharmaceuticals Inc. Takes Position in Adicet Bio, Inc. $ACET

Regeneron Pharmaceuticals Inc. purchased a new position in shares of Adicet Bio, Inc. (NASDAQ:ACET) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 60,511 shares of the company’s stock, valued at approximately $522,819,000. Adicet Bio comprises 0.3% of Regeneron Pharmaceuticals Inc.’s investment portfolio, making the stock its 3rd largest holding. Regeneron Pharmaceuticals Inc. owned 0.65% of Adicet Bio at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Johnson & Johnson bought a new position in Adicet Bio during the second quarter valued at $196,811,000. NewEdge Advisors LLC purchased a new position in shares of Adicet Bio during the 1st quarter valued at $26,000. Rangeley Capital LLC lifted its position in shares of Adicet Bio by 124.0% during the 1st quarter. Rangeley Capital LLC now owns 56,000 shares of the company’s stock valued at $381,000 after buying an additional 30,999 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Adicet Bio during the 1st quarter worth $73,000. Finally, Luminus Management LLC bought a new position in shares of Adicet Bio during the 4th quarter worth $501,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Stock Up 4.2%

Shares of NASDAQ ACET opened at $9.11 on Wednesday. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.01. The company has a market cap of $85.27 million, a P/E ratio of -0.80 and a beta of 1.60. Adicet Bio, Inc. has a 52 week low of $6.01 and a 52 week high of $17.44. The business has a 50-day simple moving average of $8.42 and a two-hundred day simple moving average of $7.82.

Adicet Bio (NASDAQ:ACET) last announced its quarterly 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). Research analysts anticipate that Adicet Bio, Inc. will post -6.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ACET has been the topic of a number of research reports. Jefferies Financial Group began coverage on Adicet Bio in a research note on Tuesday, May 5th. They issued a “buy” rating and a $19.00 price objective on the stock. Guggenheim reiterated a “buy” rating and issued a $90.00 target price (down from $100.00) on shares of Adicet Bio in a research note on Thursday, August 6th. Weiss Ratings upgraded shares of Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.80.

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.