Adicet Bio, Inc. (NASDAQ:ACET) Shares Bought by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC grew its position in Adicet Bio, Inc. (NASDAQ:ACET - Free Report) by 790.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 409,049 shares of the company's stock after purchasing an additional 363,095 shares during the period. Cubist Systematic Strategies LLC owned about 0.50% of Adicet Bio worth $495,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ACET. American International Group Inc. boosted its holdings in shares of Adicet Bio by 74.2% in the 1st quarter. American International Group Inc. now owns 26,319 shares of the company's stock valued at $62,000 after purchasing an additional 11,214 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Adicet Bio in the 1st quarter valued at $28,000. American Century Companies Inc. boosted its stake in shares of Adicet Bio by 22.9% in the 2nd quarter. American Century Companies Inc. now owns 76,087 shares of the company's stock worth $92,000 after buying an additional 14,196 shares during the last quarter. Point72 DIFC Ltd increased its holdings in Adicet Bio by 77.5% during the second quarter. Point72 DIFC Ltd now owns 33,441 shares of the company's stock worth $40,000 after buying an additional 14,596 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Adicet Bio during the 1st quarter valued at $37,000. Institutional investors and hedge funds own 83.89% of the company's stock.

Adicet Bio Price Performance

NASDAQ:ACET traded down $0.01 during mid-day trading on Friday, reaching $1.39. The stock had a trading volume of 244,079 shares, compared to its average volume of 517,904. The company has a market capitalization of $114.54 million, a price-to-earnings ratio of -0.55 and a beta of 1.79. The stock's 50 day simple moving average is $1.44 and its two-hundred day simple moving average is $1.53. Adicet Bio, Inc. has a 1-year low of $1.05 and a 1-year high of $3.77.

Adicet Bio (NASDAQ:ACET - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.36) by $0.03. Sell-side analysts anticipate that Adicet Bio, Inc. will post -1.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on ACET shares. Guggenheim initiated coverage on Adicet Bio in a research note on Monday, September 30th. They issued a "buy" rating and a $7.00 price target on the stock. Canaccord Genuity Group reduced their price target on Adicet Bio from $19.00 to $8.00 and set a "buy" rating for the company in a report on Wednesday, September 11th. StockNews.com raised shares of Adicet Bio from a "sell" rating to a "hold" rating in a report on Tuesday, October 8th. Wedbush reaffirmed an "outperform" rating and set a $5.00 price target on shares of Adicet Bio in a research report on Friday, September 20th. Finally, HC Wainwright reissued a "neutral" rating on shares of Adicet Bio in a report on Monday, September 30th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $7.50.

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.