Ra Capital Management, L.P. Buys 74,751 Shares of Adicet Bio (NASDAQ:ACET) Stock

Key Points

• Ra Capital Management bought a total of 223,596 Adicet Bio shares across Feb. 18–20 (three purchases of ~74k shares each) paying roughly $1.60 million in aggregate, raising its stake to 1,182,624 shares (a 6.75% increase).
• ACET is trading around $6.35 with a market cap near $61 million and recently reported a narrower-than-expected quarterly loss, while analysts hold a mixed view but a consensus "Moderate Buy" and an average price target of $56.25; institutional ownership is about 83.9%.

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) major shareholder Ra Capital Management, L.P. acquired 74,751 shares of the stock in a transaction on Friday, February 20th. The stock was bought at an average cost of $7.27 per share, for a total transaction of $543,439.77. Following the transaction, the insider owned 1,182,624 shares of the company's stock, valued at approximately $8,597,676.48. This trade represents a 6.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company's stock 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 bought at an average cost 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 bought at an average cost of $7.04 per share, for a total transaction of $525,022.08.

Adicet Bio Stock Performance

ACET stock traded down $0.41 during mid-day trading on Monday, hitting $6.35. The company had a trading volume of 197,799 shares, compared to its average volume of 159,737. The firm has a market cap of $60.96 million, a PE ratio of -0.35 and a beta of 1.57. Adicet Bio, Inc. has a 12 month low of $6.01 and a 12 month high of $17.44. The stock's fifty day moving average price is $7.05 and its two-hundred day moving average price is $9.24.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($2.94) EPS for the quarter, topping the consensus estimate of ($3.23) by $0.29. Equities analysts anticipate that Adicet Bio, Inc. will post -1.39 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ACET shares. Truist Financial upgraded shares of Adicet Bio to a "strong-buy" rating in a research note on Wednesday, March 25th. Canaccord Genuity Group set a $18.00 target price on shares of Adicet Bio and gave the stock a "buy" rating in a research note on Tuesday, January 6th. Guggenheim reduced 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 note on Friday, March 13th. HC Wainwright reduced 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 note on Monday, March 23rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Adicet Bio in a research note on Tuesday, January 27th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $56.25.

Institutional Investors Weigh In On Adicet Bio

A number of institutional investors and hedge funds have recently modified their holdings of the company. Franklin Resources Inc. purchased a new position in Adicet Bio during the fourth quarter valued at approximately $5,276,000. Two Sigma Investments LP lifted its stake in Adicet Bio by 66.6% in the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company's stock worth $692,000 after purchasing an additional 341,761 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in Adicet Bio in the 4th quarter valued at $2,310,000. Prosight Management LP bought a new position in Adicet Bio in the 4th quarter valued at $2,107,000. Finally, NEXTBio Capital Management LP purchased a new position in shares of Adicet Bio during the 4th quarter valued at $1,329,000. 83.89% of the stock is owned by hedge funds and other 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 (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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