Johnson & Johnson Sells 341,693 Shares of Adicet Bio, Inc. $ACET

Key Points

• Johnson & Johnson cut its stake in Adicet Bio by 93.8% in Q4, selling 341,693 shares and leaving 22,779 shares (about 0.24% of Adicet) worth roughly $192,000.
• Institutional ownership is high at 83.89%; notable moves include Citadel Advisors increasing to 583,948 shares (+96,342) and Ra Capital buying 74,751 shares (now owning 1,182,624), while insiders purchased 223,596 shares in the last 90 days.
• Adicet (NASDAQ:ACET) opened at $8.20 with a market cap of ~$78.7M, recently beat quarterly EPS estimates (‑$2.94 vs. est. ‑$3.23), and carries a consensus analyst rating of “Moderate Buy” with a $56.25 target.

Johnson & Johnson lessened its stake in Adicet Bio, Inc. (NASDAQ:ACET - Free Report) by 93.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,779 shares of the company's stock after selling 341,693 shares during the quarter. Adicet Bio comprises about 0.0% of Johnson & Johnson's investment portfolio, making the stock its 17th largest holding. Johnson & Johnson owned about 0.24% of Adicet Bio worth $192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ACET. Susquehanna International Group LLP bought a new stake in Adicet Bio in the third quarter valued at about $33,000. Squarepoint Ops LLC bought a new stake in Adicet Bio in the third quarter valued at about $38,000. FNY Investment Advisers LLC bought a new stake in Adicet Bio in the fourth quarter valued at about $51,000. Virtu Financial LLC bought a new stake in Adicet Bio in the third quarter valued at about $65,000. Finally, Citadel Advisors LLC increased its holdings in Adicet Bio by 19.8% in the third quarter. Citadel Advisors LLC now owns 583,948 shares of the company's stock valued at $473,000 after purchasing an additional 96,342 shares during the last quarter. Institutional investors own 83.89% of the company's stock.

Adicet Bio Trading Up 8.6%

NASDAQ:ACET opened at $8.20 on Friday. Adicet Bio, Inc. has a 1 year low of $6.01 and a 1 year high of $17.44. The stock has a market cap of $78.72 million, a price-to-earnings ratio of -0.46 and a beta of 1.50. The stock has a 50-day moving average price of $7.24 and a two-hundred day moving average price of $8.66.

Adicet Bio (NASDAQ:ACET - Get Free Report) last posted its 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. Sell-side analysts forecast that Adicet Bio, Inc. will post -10.26 earnings per share for the current year.

Wall Street Analyst Weigh In

ACET has been the subject of a number of recent analyst reports. Truist Financial upgraded Adicet Bio to a "strong-buy" rating in a report on Wednesday, March 25th. Guggenheim dropped their price objective on Adicet Bio from $128.00 to $100.00 and set a "buy" rating for the company in a report on Friday, March 13th. Wall Street Zen upgraded Adicet Bio from a "strong sell" rating to a "sell" rating in a report on Saturday. Weiss Ratings upgraded Adicet Bio from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, April 24th. Finally, HC Wainwright decreased 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. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Adicet Bio has an average rating of "Moderate Buy" and a consensus target price of $56.25.

Insider Buying and Selling at Adicet Bio

In other news, major shareholder Ra Capital Management, L.P. acquired 74,751 shares of Adicet Bio stock in a transaction dated Friday, February 20th. The stock was bought at an average cost of $7.27 per share, with a total value of $543,439.77. Following the completion of the transaction, the insider directly owned 1,182,624 shares of the company's stock, valued at approximately $8,597,676.48. This represents a 6.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 223,596 shares of company stock worth $1,603,934 over the last ninety days. 4.60% of the stock is owned by corporate insiders.

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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