According to a research document made public on Wednesday, JPMorgan Chase & Co. is said to have started following the stock of Adicet Bio (NASDAQ: ACET-Get Rating). It was The Fly that provided us with the information. The brokerage company strongly recommended to their customers that they “overweight” their position in the stock. ACET has garnered interest from a variety of brokerages recently, thanks to recent developments in the industry. A research report distributed on Thursday, July 28 by StockNews.com recommended “selling” shares of Adicet Bio, which was a change from the prior rating of “hold,” which the website had assigned to the company. The investment firm Truist Financial lowered its price objective for Adicet Bio shares in a report made public on Tuesday, August 23. The new price target is going to be $27.00. TheStreet has lowered Adicet Bio from a rating of “c-” to a rating of “d+” within the context of a research study that was made accessible to the general public on June 1.
JMP Securities maintained their “buy” rating on shares of Adicet Bio in a research note posted on Tuesday, June 7. At the same time, the brokerage firm established a price target of $21.00 for the company’s stock. Eight times, research experts have suggested that investors purchase the stock, while only once have they suggested that investors sell the stock. According to information provided by MarketBeat, most investors consider this stock to be a “Moderate Buy,” and their anticipated price for the stock is $28.17 on average. When trading on ACET started on Wednesday, the price was $14.81 per share. The company’s market value is currently at $592.84 million, the price-to-earnings ratio of the stock is -10.81, and the stock’s beta value is 2.29. The current share price of the company’s stock is $16.02, which is higher than its 200-day moving average price of $14.96. During today’s trading, Adicet Bio’s share price hit a one-year low of $6.87 and a one-year high of $21.17.
The biotechnology business Adicet Bio (NASDAQ: ACET-Get Rating), which most recently released its quarterly earnings on August 10, is referred to as Adicet Bio. The earnings per share for the quarter came in at $0.56, as stated in the release that the firm made, which can be found here. This number is $0.10 less than what was anticipated by the market as a whole ($0.46). In addition, the return on equity for Adicet Bio came in at 16.98%, while the net margin for the company was a negative 93.18%. According to the projections made by financial experts who keep tabs on the stock market, Adicet Bio will finish the year with negative earnings per share figure (EPS).
Chen Schor, the Chief Executive Officer of Adicet Bio, sold 66,947 shares of the company’s stock on September 12. Monday was the day that the transaction took place. A total of 1,122,701.19 dollars was received for the stock sale, which totals an average selling price of $16.77 per share. As a result of the successful transaction completion, the Chief Executive Officer now directly controls 122,712 shares of the company, which have a combined value of $2,057,880.24. The Securities and Exchange Commission reported the transaction, which can be accessed on the official website of the Securities and Exchange Commission (SEC).
On August 3, a firm insider named Blake Aftab sold 6,968 company stock shares, as mentioned in the news article referred above. The transaction involved the sale of the shares at an average price of $18.00 per share, which resulted in a total sale volume of $125,424.00. Following the completion of the transaction, the corporate insider now directly owns 38,967 shares of the firm. The current market value of these shares is about $701,406. Following the link provided in the previous line, you will be able to examine the filing made with the Securities and Exchange Commission that made the transaction public knowledge. Chen Schor, the company’s Chief Executive Officer, sold 66,947 shares of the company’s stock on Monday, September 12. There was a total transaction of shares worth $1,122,701.19, with each share fetching an average price of $16.77. As a direct result of the transaction, the Chief Executive Officer now owns 122,712 shares, which have a combined value of about $2,057,880.24. Disclosures that are related to the sale might be found in this section of the website. In the most recent period of ninety days, executives made a total profit of $1,534,604 through the sale of 91,292 shares of company stock. Corporate insiders own the corporation’s shares to the proportion of 29.20 percent.
Recent transactions involving the company’s stock involved several institutional investors purchasing and selling shares. These transactions have taken place in recent times. In the second quarter, Legal & General Group Plc raised the amount of Adicet Bio stock it owned to 204.5%, which is an increase from the percentage it had previously held. After acquiring 4,270 shares during the most recent quarter, Legal & General Group Plc now owns 6,358 shares of the company’s stock, currently valued at $93,000. The most recent fiscal quarter was used for the purchase of these shares. During the second quarter, Goldman Sachs Group Inc. racked up a 51.5% gain in the proportion of Adicet Bio shares that it owned. Following the acquisition of an additional 117,516 shares As of the end of the most recent fiscal period, Goldman Sachs Group Inc. has a total of 345,547 shares of the corporation, which have a combined market value of $5,045,000. During the second quarter, DAFNA Capital Management LLC achieved a 30.7% increase in its ownership stake in Adicet Bio. At present, ownership of the company’s shares is held by DAFNA Capital Management LLC, an investment entity that has a total of 935,766 shares. Before the start of this fiscal quarter, the corporation owned a total of 219,894 shares.
During the second quarter, the State Street Corporation boosted the proportion of its holdings in Adicet Bio by 19.9%. The company now has a total of 475,856 shares following the purchase of an additional 79,088 last quarter. The value of State Street Corp’s combined holdings in the company is currently $6,947,000. And finally, during the period covered by the report for the second quarter, Cubist Systematic Strategies LLC increased the amount of Adicet Bio stock that is owned by 7.320.5 percent. After making an additional acquisition of 43,923 shares during the most recent quarter, Cubist Systematic Strategies LLC is now the owner of 44,523 shares in the company. These shares are worth a combined total of $650,000 and give the company ownership of a total of 44,523 shares in the company.
Adicet Bio, Inc., a company that works in biotechnology, is conducting research and development on allogeneic gamma delta T cell therapy for cancer and other illnesses. These are two of the activities that the company is working on. “The company sells genetically modified gamma delta T cells that contain chimeric antigen receptors and T cell receptor-like antibodies to improve tumor targeting, encourage innate and adaptive anti-tumor immune responses, and enhance persistence for long-term action in patients,” says Medical News Today. “These cells aim to improve tumor targeting and encourage innate and adaptive anti-tumor immune responses.