Allspring Global Investments Holdings LLC Increases Stake in Adicet Bio, Inc. (NASDAQ:ACET)

Allspring Global Investments Holdings LLC grew its stake in Adicet Bio, Inc. (NASDAQ:ACET – Get Rating) by 9,188.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 46,535 shares of the company’s stock after buying an additional 46,034 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Adicet Bio were worth $661,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Ziegler Capital Management LLC purchased a new position in shares of Adicet Bio in the 3rd quarter valued at about $574,000. Legal & General Group Plc lifted its stake in Adicet Bio by 204.5% during the second quarter. Legal & General Group Plc now owns 6,358 shares of the company’s stock worth $93,000 after purchasing an additional 4,270 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Adicet Bio by 51.5% during the second quarter. Goldman Sachs Group Inc. now owns 345,547 shares of the company’s stock worth $5,045,000 after purchasing an additional 117,516 shares during the last quarter. DAFNA Capital Management LLC lifted its stake in Adicet Bio by 30.7% during the second quarter. DAFNA Capital Management LLC now owns 935,766 shares of the company’s stock worth $13,662,000 after purchasing an additional 219,894 shares during the last quarter. Finally, State Street Corp lifted its stake in Adicet Bio by 19.9% during the second quarter. State Street Corp now owns 475,856 shares of the company’s stock worth $6,947,000 after purchasing an additional 79,088 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com assumed coverage on Adicet Bio in a research note on Wednesday, October 12th. They set a “sell” rating for the company. Wedbush boosted their price objective on Adicet Bio to $30.00 in a research note on Wednesday, November 16th. Finally, HC Wainwright boosted their price objective on Adicet Bio from $34.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, December 12th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Adicet Bio has a consensus rating of “Moderate Buy” and an average target price of $27.71.

Insider Activity

In other Adicet Bio news, CEO Chen Schor sold 9,955 shares of the firm’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $21.03, for a total transaction of $209,353.65. Following the completion of the sale, the chief executive officer now owns 91,469 shares in the company, valued at approximately $1,923,593.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Adicet Bio news, insider Blake Aftab sold 6,967 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $21.00, for a total transaction of $146,307.00. Following the transaction, the insider now owns 28,209 shares of the company’s stock, valued at approximately $592,389. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Chen Schor sold 9,955 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $21.03, for a total value of $209,353.65. Following the transaction, the chief executive officer now directly owns 91,469 shares in the company, valued at approximately $1,923,593.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,422 shares of company stock worth $364,661. 29.20% of the stock is currently owned by corporate insiders.

Adicet Bio Trading Up 6.5 %

NASDAQ:ACET opened at $8.84 on Monday. The stock’s 50 day simple moving average is $12.52 and its 200-day simple moving average is $14.90. Adicet Bio, Inc. has a 12-month low of $7.42 and a 12-month high of $21.87. The firm has a market cap of $378.80 million, a P/E ratio of -6.05 and a beta of 2.29.

Adicet Bio (NASDAQ:ACET – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.03. Research analysts forecast that Adicet Bio, Inc. will post -1.54 EPS for the current fiscal year.

Adicet Bio Profile

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Adicet Bio, Inc is a biotechnology company, which engages in the design and development of off-the-shelf allogeneic gamma delta T cell therapies for cancer and other diseases. The company was founded by Aya Jakobovits in November 2014 and is headquartered in Boston, MA.