Victory Capital Management Inc. Makes New $337,000 Investment in Adicet Bio, Inc. (NASDAQ:ACET)

Victory Capital Management Inc. acquired a new position in Adicet Bio, Inc. (NASDAQ:ACETGet Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,106 shares of the company’s stock, valued at approximately $337,000. Victory Capital Management Inc. owned about 0.06% of Adicet Bio at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ACET. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Adicet Bio by 69.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,672 shares of the company’s stock valued at $33,000 after acquiring an additional 685 shares in the last quarter. Amalgamated Bank bought a new stake in shares of Adicet Bio during the first quarter valued at approximately $51,000. Dorsey Wright & Associates bought a new stake in shares of Adicet Bio during the first quarter valued at approximately $70,000. SG Americas Securities LLC bought a new stake in shares of Adicet Bio during the second quarter valued at approximately $160,000. Finally, MetLife Investment Management LLC raised its stake in shares of Adicet Bio by 55.8% during the first quarter. MetLife Investment Management LLC now owns 12,717 shares of the company’s stock valued at $254,000 after acquiring an additional 4,557 shares in the last quarter.

Analyst Ratings Changes

ACET has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of Adicet Bio in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Truist Financial reduced their price objective on shares of Adicet Bio to $27.00 in a research note on Tuesday, August 23rd. Finally, JPMorgan Chase & Co. began coverage on shares of Adicet Bio in a research note on Wednesday, September 21st. They issued an “overweight” rating and a $23.00 price objective for the company. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $27.43.

Insiders Place Their Bets

In other news, insider Blake Aftab sold 8,067 shares of the business’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $16.27, for a total transaction of $131,250.09. Following the sale, the insider now directly owns 35,176 shares of the company’s stock, valued at $572,313.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Chen Schor sold 8,094 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $16.51, for a total transaction of $133,631.94. Following the completion of the transaction, the chief executive officer now directly owns 66,747 shares in the company, valued at $1,101,992.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Blake Aftab sold 8,067 shares of the business’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $16.27, for a total transaction of $131,250.09. Following the transaction, the insider now owns 35,176 shares of the company’s stock, valued at $572,313.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,206 shares of company stock valued at $1,439,068. 29.20% of the stock is currently owned by insiders.

Adicet Bio Trading Up 1.2 %

NASDAQ ACET opened at $19.52 on Thursday. The firm’s fifty day simple moving average is $15.82 and its two-hundred day simple moving average is $14.82. Adicet Bio, Inc. has a 12-month low of $9.04 and a 12-month high of $21.17. The firm has a market capitalization of $781.41 million, a P/E ratio of -14.27 and a beta of 2.14.

Adicet Bio (NASDAQ:ACETGet Rating) last released its quarterly earnings results on Wednesday, August 10th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.11). Adicet Bio had a negative return on equity of 16.98% and a negative net margin of 93.18%. As a group, sell-side analysts predict that Adicet Bio, Inc. will post -1.14 earnings per share for the current fiscal year.

Adicet Bio Company Profile

(Get Rating)

Adicet Bio, Inc, a biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for cancer and other diseases. The company offers gamma delta T cells engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and enhance persistence for durable activity in patients.

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Institutional Ownership by Quarter for Adicet Bio (NASDAQ:ACET)

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