Cubist Systematic Strategies LLC Has $495,000 Stake in Adicet Bio, Inc. (NASDAQ:ACET)

Cubist Systematic Strategies LLC increased its stake in shares of Adicet Bio, Inc. (NASDAQ:ACET - Free Report) by 790.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 409,049 shares of the company's stock after buying an additional 363,095 shares during the period. Cubist Systematic Strategies LLC owned 0.50% of Adicet Bio worth $495,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Adicet Bio during the first quarter worth approximately $28,000. Price T Rowe Associates Inc. MD acquired a new position in Adicet Bio during the 1st quarter worth $37,000. American International Group Inc. lifted its holdings in Adicet Bio by 74.2% during the 1st quarter. American International Group Inc. now owns 26,319 shares of the company's stock worth $62,000 after buying an additional 11,214 shares in the last quarter. Point72 DIFC Ltd boosted its position in Adicet Bio by 77.5% in the 2nd 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 last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Adicet Bio in the 2nd quarter valued at $43,000. Institutional investors own 83.89% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ACET shares. StockNews.com cut Adicet Bio from a "hold" rating to a "sell" rating in a report on Tuesday, September 10th. Guggenheim assumed coverage on shares of Adicet Bio in a research note on Monday, September 30th. They issued a "buy" rating and a $7.00 target price on the stock. Canaccord Genuity Group dropped their price target on shares of Adicet Bio from $19.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. Wedbush reaffirmed an "outperform" rating and issued a $5.00 price objective on shares of Adicet Bio in a research note on Friday, September 20th. Finally, HC Wainwright reiterated a "neutral" rating on shares of Adicet Bio in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus 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 mid-day trading on Friday. 122,360 shares of the company were exchanged, compared to its average volume of 618,131. The stock has a fifty day moving average of $1.45 and a 200 day moving average of $1.57. 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 $116.69 million, a price-to-earnings ratio of -0.48 and a beta of 1.79.

Adicet Bio (NASDAQ:ACET - Get Free Report) last posted 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, equities research analysts expect that Adicet Bio, Inc. will post -1.35 EPS for the current fiscal year.

Adicet Bio 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.