Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in Adicet Bio, Inc. (NASDAQ:ACET)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in Adicet Bio, Inc. (NASDAQ:ACET) by 15.1% during the third quarter, Holdings Channel.com reports. The firm owned 180,793 shares of the company’s stock after selling 32,030 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Adicet Bio were worth $260,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACET. American Century Companies Inc. grew its position 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 boosted its holdings in Adicet Bio by 77.5% in the second quarter. Point72 DIFC Ltd now owns 33,441 shares of the company’s stock valued at $40,000 after acquiring an additional 14,596 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Adicet Bio during the 1st quarter valued at $37,000. GSA Capital Partners LLP raised its holdings in Adicet Bio by 161.3% in the 3rd quarter. GSA Capital Partners LLP now owns 39,208 shares of the company’s stock worth $56,000 after purchasing an additional 24,203 shares in the last quarter. Finally, XTX Topco Ltd raised its holdings in Adicet Bio by 14.9% in the 2nd quarter. XTX Topco Ltd now owns 259,788 shares of the company’s stock worth $314,000 after purchasing an additional 33,739 shares in the last quarter. Institutional investors own 83.89% of the company’s stock.

Analyst Ratings Changes

ACET has been the subject of several research analyst reports. StockNews.com lowered shares of Adicet Bio from a “hold” rating to a “sell” rating in a report on Tuesday, November 19th. Canaccord Genuity Group lowered their target price on 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 restated an “outperform” rating and set a $5.00 price target on shares of Adicet Bio in a research report on Thursday, November 7th. HC Wainwright reiterated a “neutral” rating on shares of Adicet Bio in a report on Monday, November 18th. Finally, Guggenheim assumed coverage on shares of Adicet Bio in a report on Monday, September 30th. They set a “buy” rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $7.50.

Adicet Bio Stock Performance

NASDAQ ACET opened at $1.13 on Monday. The business’s fifty day moving average is $1.29 and its 200 day moving average is $1.37. Adicet Bio, Inc. has a fifty-two week low of $0.89 and a fifty-two week high of $3.77. The company has a market capitalization of $93.11 million, a PE ratio of -0.66 and a beta of 1.81.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.34) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.34). On average, sell-side analysts forecast that Adicet Bio, Inc. will post -1.39 EPS for the current year.

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.