Regeneron Pharmaceuticals Inc. Sells 907,672 Shares of Adicet Bio, Inc. $ACET

Regeneron Pharmaceuticals Inc. reduced its position in Adicet Bio, Inc. (NASDAQ:ACET) by 93.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 60,511 shares of the company’s stock after selling 907,672 shares during the quarter. Adicet Bio makes up about 1.5% of Regeneron Pharmaceuticals Inc.’s investment portfolio, making the stock its 2nd largest holding. Regeneron Pharmaceuticals Inc.’s holdings in Adicet Bio were worth $510,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ACET. Susquehanna International Group LLP acquired a new position in Adicet Bio in the 3rd quarter worth about $33,000. Squarepoint Ops LLC acquired a new position in Adicet Bio in the 3rd quarter worth about $38,000. FNY Investment Advisers LLC acquired a new position in Adicet Bio in the 4th quarter worth about $51,000. Virtu Financial LLC acquired a new position in Adicet Bio in the 3rd quarter worth about $65,000. Finally, Citadel Advisors LLC increased its position in Adicet Bio by 19.8% in the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock worth $473,000 after purchasing an additional 96,342 shares during the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ACET shares. Guggenheim dropped their target price on Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. HC Wainwright dropped their target price on Adicet Bio from $50.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Truist Financial raised Adicet Bio to a “strong-buy” rating in a research report on Wednesday, March 25th. Jefferies Financial Group initiated coverage on Adicet Bio in a research report on Tuesday, May 5th. They issued a “buy” rating and a $19.00 target price on the stock. Finally, Wall Street Zen upgraded Adicet Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.80.

Adicet Bio Stock Performance

ACET opened at $8.30 on Friday. The company has a market cap of $77.59 million, a PE ratio of -0.56 and a beta of 1.50. The stock has a 50-day moving average of $7.45 and a 200-day moving average of $8.04. Adicet Bio, Inc. has a 52-week low of $6.01 and a 52-week high of $17.44. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.65 and a current ratio of 7.66.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($1.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.93) by $1.05. As a group, equities research analysts forecast that Adicet Bio, Inc. will post -8.61 earnings per share for the current fiscal year.

Adicet Bio 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.