Johnson & Johnson Has $192,000 Position in Adicet Bio, Inc. $ACET

Johnson & Johnson reduced its position in shares of Adicet Bio, Inc. (NASDAQ:ACET) by 93.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 22,779 shares of the company’s stock after selling 341,693 shares during the quarter. Adicet Bio accounts for about 0.0% of Johnson & Johnson’s investment portfolio, making the stock its 17th biggest holding. Johnson & Johnson’s holdings in Adicet Bio were worth $192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in shares of Adicet Bio during the fourth quarter worth about $51,000. Susquehanna International Group LLP acquired a new position in shares of Adicet Bio during the third quarter worth about $33,000. Squarepoint Ops LLC acquired a new position in shares of Adicet Bio during the third quarter worth about $38,000. Goldman Sachs Group Inc. boosted 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 buying an additional 63,691 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Adicet Bio during the third quarter worth about $65,000. 83.89% of the stock is owned by institutional investors and hedge funds.

Adicet Bio Stock Performance

ACET opened at $8.20 on Friday. Adicet Bio, Inc. has a 52-week low of $6.01 and a 52-week high of $17.44. The firm has a market capitalization of $78.72 million, a PE ratio of -0.46 and a beta of 1.50. The business’s 50-day simple moving average is $7.24 and its 200 day simple moving average is $8.66.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings data on Thursday, March 12th. The company reported ($2.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.23) by $0.29. On average, research analysts forecast that Adicet Bio, Inc. will post -10.26 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ACET shares. HC Wainwright reduced their price objective on Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Canaccord Genuity Group set a $18.00 target price on Adicet Bio and gave the stock a “buy” rating in a report on Tuesday, January 6th. Wall Street Zen upgraded Adicet Bio from a “strong sell” rating to a “sell” rating in a report on Saturday. Weiss Ratings upgraded Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Finally, Guggenheim dropped their target price on Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Adicet Bio currently has a consensus rating of “Moderate Buy” and an average price target of $56.25.

Insider Transactions at Adicet Bio

In other Adicet Bio news, major shareholder Ra Capital Management, L.P. acquired 74,751 shares of the company’s stock in a transaction on Friday, February 20th. The shares were purchased at an average price of $7.27 per share, for a total transaction of $543,439.77. Following the completion of the purchase, the insider directly owned 1,182,624 shares of the company’s stock, valued at approximately $8,597,676.48. This represents a 6.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased a total of 223,596 shares of company stock valued at $1,603,934 in the last 90 days. 4.60% of the stock is owned by corporate insiders.

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.