Acadian Asset Management LLC increased its position in shares of Adicet Bio, Inc. (NASDAQ:ACET – Free Report) by 205.4% during the second quarter, Holdings Channel reports. The institutional investor owned 1,085,093 shares of the company’s stock after purchasing an additional 729,750 shares during the quarter. Acadian Asset Management LLC’s holdings in Adicet Bio were worth $1,312,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the company. American International Group Inc. boosted its holdings in Adicet Bio by 74.2% during the first quarter. American International Group Inc. now owns 26,319 shares of the company’s stock valued at $62,000 after purchasing an additional 11,214 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Adicet Bio in the 1st quarter worth approximately $28,000. Price T Rowe Associates Inc. MD bought a new position in Adicet Bio in the 1st quarter worth approximately $37,000. Bayesian Capital Management LP bought a new position in Adicet Bio in the 1st quarter worth approximately $90,000. Finally, Panagora Asset Management Inc. bought a new stake in shares of Adicet Bio during the 4th quarter valued at $98,000. 83.89% of the stock is owned by institutional investors and hedge funds.
Adicet Bio Price Performance
Shares of NASDAQ:ACET opened at $1.49 on Monday. The company’s 50-day moving average price is $1.41 and its two-hundred day moving average price is $1.65. Adicet Bio, Inc. has a one year low of $1.05 and a one year high of $3.77. The stock has a market capitalization of $122.78 million, a PE ratio of -0.51 and a beta of 1.79.
Analyst Ratings Changes
Several brokerages have recently issued reports on ACET. Canaccord Genuity Group decreased their price target on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a research note on Tuesday, September 10th. StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th. Finally, HC Wainwright lowered shares of Adicet Bio from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 11th.
View Our Latest Report on Adicet Bio
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.
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