Adicet Bio, Inc. (NASDAQ:ACET) Stock Position Lowered by State Street Corp

State Street Corp trimmed its position in shares of Adicet Bio, Inc. (NASDAQ:ACET) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 229,721 shares of the company’s stock after selling 15,100 shares during the period. State Street Corp’s holdings in Adicet Bio were worth $331,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd raised its position in Adicet Bio by 77.5% during the second quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after buying an additional 14,596 shares during the period. Marshall Wace LLP acquired a new position in shares of Adicet Bio in the 2nd quarter valued at about $43,000. GSA Capital Partners LLP lifted its position in shares of Adicet Bio by 161.3% in the third quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after purchasing an additional 24,203 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Adicet Bio during the second quarter worth approximately $62,000. Finally, Castleview Partners LLC purchased a new position in Adicet Bio during the third quarter valued at approximately $75,000. 83.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ACET. Canaccord Genuity Group cut their target price on shares of Adicet Bio from $19.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. StockNews.com cut Adicet Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Guggenheim assumed coverage on shares of Adicet Bio in a report on Monday, September 30th. They issued a “buy” rating and a $7.00 price objective for the company. Wedbush reaffirmed an “outperform” rating and issued a $5.00 price target on shares of Adicet Bio in a research report on Thursday, November 7th. Finally, HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.50.

Adicet Bio Price Performance

Shares of ACET opened at $0.99 on Friday. The company has a market capitalization of $81.80 million, a PE ratio of -0.58 and a beta of 1.88. Adicet Bio, Inc. has a one year low of $0.81 and a one year high of $3.77. The company’s fifty day moving average price is $1.06 and its 200 day moving average price is $1.28.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Wednesday, November 6th. The company reported ($0.34) EPS for the quarter, meeting the consensus estimate of ($0.34). Analysts anticipate that Adicet Bio, Inc. will post -1.39 earnings per share for the current year.

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.