Regeneron Pharmaceuticals Inc. Reduces Stock Position in Adicet Bio, Inc. $ACET

Regeneron Pharmaceuticals Inc. lessened its position in Adicet Bio, Inc. (NASDAQ:ACET) by 93.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,511 shares of the company’s stock after selling 907,672 shares during the period. Adicet Bio makes up 1.5% of Regeneron Pharmaceuticals Inc.’s holdings, making the stock its 2nd largest position. Regeneron Pharmaceuticals Inc. owned about 0.63% of Adicet Bio worth $510,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of Adicet Bio by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after purchasing an additional 63,691 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Adicet Bio during the third quarter worth $38,000. Two Sigma Investments LP raised its position in shares of Adicet Bio by 66.6% during the third quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock worth $692,000 after purchasing an additional 341,761 shares during the period. Virtu Financial LLC acquired a new stake in shares of Adicet Bio during the third quarter worth $65,000. Finally, Citadel Advisors LLC raised its position in shares of Adicet Bio by 19.8% during the third quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock worth $473,000 after purchasing an additional 96,342 shares during the period. 83.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ACET. Guggenheim cut their target price on Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, March 13th. HC Wainwright cut their target price on Adicet Bio from $50.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Truist Financial raised Adicet Bio to a “strong-buy” rating in a research report on Wednesday, March 25th. Jefferies Financial Group began coverage on Adicet Bio in a research report on Tuesday, May 5th. They set a “buy” rating and a $19.00 target price on the stock. Finally, Weiss Ratings lowered Adicet Bio from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.80.

Adicet Bio Stock Up 5.2%

NASDAQ:ACET opened at $8.30 on Friday. The firm has a market capitalization of $77.59 million, a price-to-earnings ratio of -0.56 and a beta of 1.50. Adicet Bio, Inc. has a 1-year low of $6.01 and a 1-year high of $17.44. The company has a current ratio of 7.66, a quick ratio of 7.65 and a debt-to-equity ratio of 0.01. The business’s fifty day moving average price is $7.45 and its 200 day moving average price is $8.04.

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

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.