Adicet Bio (NASDAQ:ACET) Major Shareholder Purchases $535,472.28 in Stock

Key Points

• Ra Capital Management, L.P. bought three blocks of Adicet Bio stock on Feb 18–20 totaling 223,596 shares (74,577; 74,268; 74,751) for roughly $1.60M (~$7.04–$7.27 per share), raising its holdings to 1,107,873 shares — a 7.19% increase in its position valued at about $7.99M.
• Adicet (NASDAQ:ACET) was trading at $6.35 (below the recent purchase prices), has a market cap of ~$60.96M and a 1‑year range of $6.01–$17.44, while analysts show a MarketBeat consensus of Moderate Buy with a $56.25 price target.

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) major shareholder Ra Capital Management, L.P. purchased 74,268 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was bought at an average cost of $7.21 per share, with a total value of $535,472.28. Following the completion of the acquisition, the insider directly owned 1,107,873 shares of the company's stock, valued at $7,987,764.33. This trade represents a 7.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, February 20th, Ra Capital Management, L.P. purchased 74,751 shares of Adicet Bio stock. The stock was bought at an average cost of $7.27 per share, with a total value of $543,439.77.
• On Wednesday, February 18th, Ra Capital Management, L.P. purchased 74,577 shares of Adicet Bio stock. The stock was bought at an average cost of $7.04 per share, with a total value of $525,022.08.

Adicet Bio Price Performance

NASDAQ:ACET traded down $0.41 during trading hours on Monday, reaching $6.35. The company had a trading volume of 197,799 shares, compared to its average volume of 159,737. Adicet Bio, Inc. has a 1-year low of $6.01 and a 1-year high of $17.44. The firm has a market cap of $60.96 million, a PE ratio of -0.35 and a beta of 1.57. The business's 50 day moving average price is $7.05 and its 200-day moving average price is $9.24.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($2.94) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.23) by $0.29. On average, analysts expect that Adicet Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Susquehanna International Group LLP acquired a new position in shares of Adicet Bio during the 3rd quarter worth approximately $33,000. Squarepoint Ops LLC purchased a new stake in shares of Adicet Bio during the third quarter worth approximately $38,000. FNY Investment Advisers LLC purchased a new stake in shares of Adicet Bio during the fourth quarter worth approximately $51,000. Virtu Financial LLC purchased a new stake in shares of Adicet Bio during the third quarter worth approximately $65,000. Finally, Maven Securities LTD purchased a new stake in shares of Adicet Bio during the fourth quarter worth approximately $263,000. 83.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on ACET. Truist Financial raised Adicet Bio to a "strong-buy" rating in a report on Wednesday, March 25th. HC Wainwright reduced their target price on Adicet Bio from $50.00 to $27.00 and set a "buy" rating for the company in a research note on Monday, March 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Adicet Bio in a research note on Tuesday, January 27th. Canaccord Genuity Group set a $18.00 target price on Adicet Bio and gave the stock a "buy" rating in a research note on Tuesday, January 6th. Finally, Guggenheim reduced their target price on Adicet Bio from $128.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Adicet Bio currently has a consensus rating of "Moderate Buy" and a consensus price target of $56.25.

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 (γδ) T cell therapies for oncology and autoimmune disorders. The company's proprietary platform enables the genetic engineering of γδ 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 γδ 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 γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.

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