XTX Topco Ltd Trims Holdings in Adicet Bio, Inc. (NASDAQ:ACET)

XTX Topco Ltd lowered its stake in shares of Adicet Bio, Inc. (NASDAQ:ACET) by 76.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 68,197 shares of the company’s stock after selling 223,983 shares during the period. XTX Topco Ltd’s holdings in Adicet Bio were worth $66,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Adicet Bio in the fourth quarter valued at $29,000. JPMorgan Chase & Co. boosted its holdings in Adicet Bio by 87.3% during the 4th quarter. JPMorgan Chase & Co. now owns 150,485 shares of the company’s stock valued at $145,000 after acquiring an additional 70,132 shares during the period. Geode Capital Management LLC boosted its holdings in Adicet Bio by 14.5% during the 3rd quarter. Geode Capital Management LLC now owns 768,566 shares of the company’s stock valued at $1,107,000 after acquiring an additional 97,567 shares during the period. Norges Bank acquired a new position in Adicet Bio in the 4th quarter valued at about $413,000. Finally, Regeneron Pharmaceuticals Inc. acquired a new stake in shares of Adicet Bio during the fourth quarter worth about $931,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

Wall Street Analyst Weigh In

ACET has been the subject of a number of research reports. StockNews.com upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a report on Monday. Guggenheim reaffirmed a “buy” rating and set a $7.00 price objective on shares of Adicet Bio in a research report on Friday, March 21st. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a report on Friday, March 7th. Finally, JMP Securities restated a “market perform” rating on shares of Adicet Bio in a report on Thursday, February 6th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Adicet Bio has an average rating of “Moderate Buy” and a consensus target price of $7.50.

Adicet Bio Trading Up 6.4 %

Adicet Bio stock opened at $0.66 on Thursday. The company has a fifty day simple moving average of $0.72 and a 200-day simple moving average of $0.94. The stock has a market cap of $54.75 million, a P/E ratio of -0.39 and a beta of 1.99. Adicet Bio, Inc. has a 12-month low of $0.45 and a 12-month high of $1.87.

Adicet Bio (NASDAQ:ACET) last issued its earnings results on Thursday, March 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.05. As a group, sell-side analysts forecast that Adicet Bio, Inc. will post -1.39 earnings per share 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.