Overview
RA Capital Management, L.P., together with affiliated entities, disclosed purchases of common shares of Adicet Bio, Inc. (NASDAQ: ACET) across a set of transactions labeled with transaction code "P." The cumulative value of these acquisitions was $1.6 million.
Transaction details
The purchases took place over three consecutive trading days - February 18, February 19, and February 20, 2026. The reported share counts, weighted average prices and observed price ranges for each day are as follows:
| Date | Shares | Weighted Average Price | Price Range |
|---|---|---|---|
| February 18, 2026 | 74,577 | $7.04 | $6.89 - $7.20 |
| February 19, 2026 | 74,268 | $7.21 | $6.89 - $7.48 |
| February 20, 2026 | 74,751 | $7.27 | $7.05 - $7.58 |
In total, these transactions equal 223,596 shares and the aggregate value of purchases is reported as $1.6 million. All buys were identified with transaction code "P."
Price context and valuation note
The share activity was reported as Adicet Bio traded near its 52-week low of $6.01. At the time of the reporting, the stock was at $6.35, reflecting a 57% decline over the prior six months. An InvestingPro analysis cited in the reporting noted that, based on Fair Value metrics, ACET appears undervalued - a finding offered as a possible explanation for the buying activity by RA Capital and related parties.
Beneficial ownership and filers
The transactions were disclosed by several related parties: RA Capital Management, L.P., RA Capital Healthcare Fund LP, Peter Kolchinsky, and Rajeev M. Shah. The filing indicates these parties may be deemed to have beneficial ownership of the acquired shares.
Analyst activity
Analyst coverage of Adicet Bio has seen multiple recent adjustments to price targets while maintaining Buy ratings. H.C. Wainwright at one point lowered its target to $27 from $50, citing a higher discount rate and increased long-term operating expenses, though it kept a Buy rating and noted Adicet's fourth-quarter 2025 net loss of $2.94 per share was better than its prior estimate. Separately, Guggenheim reduced its target to $100 from $128, pointing to valuation concerns, yet it too retained a Buy rating and highlighted strong enrollment momentum in Adicet's Phase 1 trial for prula-cel across multiple autoimmune indications. H.C. Wainwright subsequently revised its target upward to $50 from $9, expressing optimism about upcoming catalysts for Adicet's CD20-targeted allogeneic gamma delta CAR-T therapy, prulacabtagene leucel.
Takeaway
The disclosed purchases by RA Capital and affiliated filers represent a concentrated buy over a short window while ACET traded near multi-month lows. Concurrent analyst attention, including several material price-target adjustments and continued Buy recommendations, underscores active market scrutiny of Adicet Bio's clinical progress and financial outlook.