NEXTBio Capital Management LP Purchases Shares of 157,827 Adicet Bio, Inc. $ACET

NEXTBio Capital Management LP purchased a new stake in Adicet Bio, Inc. (NASDAQ:ACET) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 157,827 shares of the company’s stock, valued at approximately $1,329,000. Adicet Bio comprises approximately 0.8% of NEXTBio Capital Management LP’s portfolio, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in Adicet Bio by 1.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock valued at $2,882,000 after acquiring an additional 63,691 shares during the last quarter. Two Sigma Investments LP lifted its holdings in Adicet Bio by 66.6% in the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock valued at $692,000 after acquiring an additional 341,761 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Adicet Bio in the 4th quarter valued at about $5,276,000. Citadel Advisors LLC lifted its holdings in Adicet Bio by 19.8% in the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock valued at $473,000 after acquiring an additional 96,342 shares during the last quarter. Finally, Prosight Management LP acquired a new stake in Adicet Bio in the 4th quarter valued at about $2,107,000. 83.89% of the stock is owned by institutional investors and hedge funds.

Adicet Bio Price Performance

ACET stock opened at $8.05 on Friday. The company has a current ratio of 7.66, a quick ratio of 7.65 and a debt-to-equity ratio of 0.01. Adicet Bio, Inc. has a one year low of $6.01 and a one year high of $17.44. The firm has a market capitalization of $75.27 million, a PE ratio of -0.54 and a beta of 1.56. The firm has a 50-day moving average of $7.80 and a two-hundred day moving average of $7.80.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($1.88) EPS for the quarter, beating analysts’ consensus estimates of ($2.93) by $1.05. On average, analysts forecast that Adicet Bio, Inc. will post -8.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

ACET has been the subject of a number of analyst reports. Weiss Ratings raised shares of Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Jefferies Financial Group initiated coverage on shares of Adicet Bio in a research note on Tuesday, May 5th. They set a “buy” rating and a $19.00 price objective for the company. Wall Street Zen raised shares of Adicet Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. HC Wainwright reduced their price objective 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, Truist Financial raised shares of Adicet Bio to a “strong-buy” rating in a research note on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.80.

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.