Two Sigma Advisers LP Raises Holdings in Adicet Bio, Inc. (NASDAQ:ACET)

Two Sigma Advisers LP lifted its holdings in shares of Adicet Bio, Inc. (NASDAQ:ACET) by 12.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 794,039 shares of the company’s stock after acquiring an additional 87,400 shares during the period. Two Sigma Advisers LP owned approximately 0.96% of Adicet Bio worth $764,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ACET. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of Adicet Bio during the fourth quarter worth about $931,000. Norges Bank purchased a new stake in shares of Adicet Bio during the fourth quarter worth about $413,000. Bridgeway Capital Management LLC grew its stake in shares of Adicet Bio by 20.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company’s stock worth $988,000 after acquiring an additional 175,000 shares during the last quarter. Stonepine Capital Management LLC grew its stake in shares of Adicet Bio by 14.9% during the fourth quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company’s stock worth $673,000 after acquiring an additional 90,554 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Adicet Bio by 10,321.9% in the third quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock valued at $116,000 after buying an additional 79,582 shares during the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

Adicet Bio Trading Up 4.3%

Adicet Bio stock opened at $0.75 on Tuesday. Adicet Bio, Inc. has a 12 month low of $0.45 and a 12 month high of $1.70. The stock’s 50 day simple moving average is $0.64 and its two-hundred day simple moving average is $0.83. The firm has a market cap of $61.95 million, a PE ratio of -0.44 and a beta of 1.76.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.03. On average, equities research analysts forecast that Adicet Bio, Inc. will post -1.39 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on ACET shares. Wall Street Zen started coverage on Adicet Bio in a research report on Friday, May 16th. They issued a “hold” rating on the stock. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a research report on Friday, March 7th. Guggenheim reiterated a “buy” rating and issued a $7.00 target price on shares of Adicet Bio in a research report on Friday, March 21st. Finally, JMP Securities reiterated a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Adicet Bio Company Profile

Adicet Bio, Inc, a clinical stage biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. The company offers gamma delta T cells engineered with chimeric antigen receptors (CARs) to facilitate durable activity in patients. Its lead product candidate is ADI-001, an allogeneic gamma delta T cell therapy expressing a CAR targeting CD20, which is in Phase I clinical trial for the treatment of autoimmune diseases and relapsed or refractory aggressive B cell non-Hodgkin's lymphoma.