NEXTBio Capital Management LP Invests $1.33 Million in Adicet Bio, Inc. $ACET

NEXTBio Capital Management LP purchased a new position in shares of Adicet Bio, Inc. (NASDAQ:ACET) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 157,827 shares of the company’s stock, valued at approximately $1,329,000. Adicet Bio comprises about 0.8% of NEXTBio Capital Management LP’s portfolio, making the stock its 23rd largest position. NEXTBio Capital Management LP owned 1.65% of Adicet Bio as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC bought a new position in shares of Adicet Bio during the fourth quarter worth about $51,000. Susquehanna International Group LLP bought a new position in shares of Adicet Bio during the third quarter worth about $33,000. Squarepoint Ops LLC bought a new position in shares of Adicet Bio during the third quarter worth about $38,000. Virtu Financial LLC bought a new position in shares of Adicet Bio during the third quarter worth about $65,000. Finally, Prosight Management LP bought a new position in shares of Adicet Bio during the fourth quarter worth about $2,107,000. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Stock Performance

Shares of ACET opened at $8.05 on Friday. The firm has a 50-day moving average price of $7.80 and a 200 day moving average price of $7.80. The firm has a market capitalization of $75.27 million, a PE ratio of -0.54 and a beta of 1.56. The company has a quick ratio of 7.65, a current ratio of 7.66 and a debt-to-equity ratio of 0.01. Adicet Bio, Inc. has a 52-week low of $6.01 and a 52-week high of $17.44.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Truist Financial upgraded shares of Adicet Bio to a “strong-buy” rating in a research report on Wednesday, March 25th. Wall Street Zen upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings upgraded shares of Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Guggenheim decreased their target price on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Finally, Jefferies Financial Group assumed coverage on shares of Adicet Bio in a research report on Tuesday, May 5th. They issued a “buy” rating and a $19.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.80.

Adicet Bio Company 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.