Morgan Stanley & Co. LLC recently announced the acquisition of new stake in Adicet Bio Inc (NASDAQ:ACET). The institutional investor has increased its shareholding in the Healthcare company by 14.23% to 2.69 million shares with purchase of 0.34 million shares. This fresh investment now brings its stake to 6.24% valued currently at $3.18 million. In addition, The Vanguard Group, Inc. raised its holdings by 3700.0 to 1.65 million shares.
With over 7.19 million Adicet Bio Inc (ACET) shares trading Tuesday and a closing price of $3.45 on the day, the dollar volume was approximately $24.81 million. The shares have shown a positive half year performance of 5.18% and its price on 01/09/24 gained nearly 40.24%. Currently, there are 42.95M common shares owned by the public and among those 30.39M shares have been available to trade.
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Insiders at the company have transacted a total of 31 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 1,991,300 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 81,399 shares.
The top 3 mutual fund holders in Adicet Bio Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Candriam Equities L – Oncology Im. Vanguard Total Stock Market ETF owns 0.94 million shares of the company’s stock, all valued at over $1.11 million. iShares Russell 2000 ETF bought 354.0 shares to see its total holdings expand to 0.72 million shares valued at over $0.85 million and representing 1.67% of the shares outstanding. Candriam Equities L – Oncology Im sold -0.25 million shares to bring its total holdings to over 0.52 million shares at a value of $0.61 million. Candriam Equities L – Oncology Im now owns shares totaling to 1.20% of the shares outstanding.
Shares of Adicet Bio Inc (NASDAQ: ACET) opened at $2.52, up $0.06 from a prior closing price of $2.46. However, the script later moved the day high at 3.7699, up 40.24%. The company’s stock has a 5-day price change of 71.64% and 176.00% over the past three months. ACET shares are trading 82.54% year to date (YTD), with the 12-month market performance down to -58.83% lower. It has a 12-month low price of $1.10 and touched a high of $9.52 over the same period. ACET has an average intraday trading volume of 521.94K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 101.17%, 139.63%, and 11.56% respectively.
Institutional ownership of Adicet Bio Inc (NASDAQ: ACET) shares accounts for 56.42% of the company’s 42.95M shares outstanding. Mutual fund holders own 22.91%, while other institutional holders and individual stakeholders account for 43.51% and 12.91% respectively.
It has a market capitalization of $148.90M and a beta (3y monthly) value of 1.90. The earnings-per-share (ttm) stands at -$3.35. Price movements for the stock have been influenced by the stock’s volatility, which stands at 25.55% over the week and 14.40% over the month.
Analysts forecast that Adicet Bio Inc (ACET) will achieve an EPS of -$0.7 for the current quarter, -$0.75 for the next quarter and -$2.64 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.78 while analysts give the company a high EPS estimate of -$0.45. Comparatively, EPS for the current quarter was -$0.72 a year ago. Earnings per share for the fiscal year are expected to decrease by -95.15%, and 19.30% over the next financial year. EPS should shrink at an annualized rate of 29.10% over the next five years, compared to 50.81% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Adicet Bio Inc (ACET) as a “Strong Buy” at a consensus score of 1.80. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 4 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
