Bridgeway Capital Management LLC Has $988,000 Stock Position in Adicet Bio, Inc. (NASDAQ:ACET)

Bridgeway Capital Management LLC increased its position in shares of Adicet Bio, Inc. (NASDAQ:ACET) by 20.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,026,600 shares of the company’s stock after buying an additional 175,000 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Adicet Bio were worth $988,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of Adicet Bio by 10,321.9% during the third quarter. JPMorgan Chase & Co. now owns 80,353 shares of the company’s stock worth $116,000 after purchasing an additional 79,582 shares during the period. Regeneron Pharmaceuticals Inc. bought a new stake in Adicet Bio during the 4th quarter valued at $931,000. Norges Bank bought a new stake in Adicet Bio during the 4th quarter valued at $413,000. Virtu Financial LLC acquired a new position in Adicet Bio during the fourth quarter worth $29,000. Finally, Northern Trust Corp lifted its stake in shares of Adicet Bio by 25.1% in the fourth quarter. Northern Trust Corp now owns 140,369 shares of the company’s stock valued at $135,000 after buying an additional 28,153 shares in the last quarter. Institutional investors own 83.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Adicet Bio from a “sell” rating to a “hold” rating in a report on Monday, April 28th. HC Wainwright reissued a “neutral” rating on shares of Adicet Bio in a research note on Friday, March 7th. JMP Securities reaffirmed a “market perform” rating on shares of Adicet Bio in a research report on Thursday, February 6th. Finally, Guggenheim reissued a “buy” rating and issued a $7.00 price target on shares of Adicet Bio in a research report on Friday, March 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Adicet Bio Trading Up 28.1 %

Shares of ACET opened at $0.61 on Friday. The stock has a 50 day moving average of $0.68 and a 200 day moving average of $0.90. The company has a market capitalization of $50.67 million, a price-to-earnings ratio of -0.36 and a beta of 1.76. Adicet Bio, Inc. has a 12 month low of $0.45 and a 12 month high of $1.71.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Tuesday, May 6th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.03. As a group, equities research analysts predict that Adicet Bio, Inc. will post -1.39 earnings per share 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.