Renaissance Technologies LLC Increases Stock Holdings in Adicet Bio, Inc. (NASDAQ:ACET)

Renaissance Technologies LLC lifted its holdings in shares of Adicet Bio, Inc. (NASDAQ:ACET - Free Report) by 44.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,512,600 shares of the company's stock after purchasing an additional 463,600 shares during the quarter. Renaissance Technologies LLC owned about 1.84% of Adicet Bio worth $1,830,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ACET. RA Capital Management L.P. purchased a new position in shares of Adicet Bio during the 1st quarter worth $17,721,000. Vanguard Group Inc. lifted its stake in Adicet Bio by 85.5% during the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company's stock worth $7,347,000 after acquiring an additional 1,441,503 shares in the last quarter. Blackstone Inc. acquired a new position in Adicet Bio during the 1st quarter worth about $2,906,000. Carlyle Group Inc. lifted its stake in Adicet Bio by 39.4% during the 1st quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company's stock worth $6,900,000 after acquiring an additional 833,333 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Adicet Bio by 205.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,085,093 shares of the company's stock worth $1,312,000 after acquiring an additional 729,750 shares in the last quarter. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ACET. Guggenheim began coverage on Adicet Bio in a research note on Monday. They set a "buy" rating and a $7.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and issued a $5.00 price target on shares of Adicet Bio in a research report on Friday, September 20th. HC Wainwright reaffirmed a "neutral" rating on shares of Adicet Bio in a research report on Monday. StockNews.com lowered Adicet Bio from a "hold" rating to a "sell" rating in a research report on Tuesday, September 10th. Finally, Canaccord Genuity Group reduced their price target on Adicet Bio from $19.00 to $8.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $7.50.

Adicet Bio Stock Performance

Shares of NASDAQ ACET remained flat at $1.42 during midday trading on Friday. The stock had a trading volume of 122,135 shares, compared to its average volume of 1,221,652. Adicet Bio, Inc. has a 1-year low of $1.05 and a 1-year high of $3.77. The company has a market cap of $117.01 million, a P/E ratio of -0.48 and a beta of 1.79. The firm has a fifty day simple moving average of $1.45 and a two-hundred day simple moving average of $1.57.

Adicet Bio (NASDAQ:ACET - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.03. On average, analysts anticipate that Adicet Bio, Inc. will post -1.35 EPS for the current fiscal 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.