EconomyEditor's PickNewsOrbimed Advisors increased stake in Adicet Bio, Inc.

1 year ago106 min
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imageStock Markets10 minutes ago (Oct 05, 2020 05:30PM ET)

(C) Reuters. Orbimed Advisors increased stake in Adicet Bio, Inc.

On the 15th of September, Orbimed Advisors added 4.8 million Adicet Bio, Inc. (ACET) shares for $77 million at an average price of $15.96 per share.
Shares of Adicet Bio, Inc. are down -24.62% since the transaction.

Orbimed Advisors’s holding in Adicet Bio, Inc. increased to about 5.5 million shares with the purchase.

Orbimed Advisors first bought Adicet Bio, Inc. stock in the first quarter of 2018.
Orbimed Advisors also owns Bristol-Myers Squibb Co (NYSE:BMY), Merck (MRK), Mirati Therapeutics Inc (NASDAQ:MRTX) and Turning Point Therapeutics, Inc. (NASDAQ:TPTX).
Adicet Bio, Inc. is its number eleven position by number of shares and market value among biotechnology & life sciences stocks.

In contrast, California State Teachers Retirement System, Millennium Management, and Victory Capital Management sold all their ACET shares.

Orbimed Advisors has also recently reduced their share in Alector, Inc. (NASDAQ:ALEC).
The total value of the shares sold is estimated at around $105 million.

In addition, Orbimed Advisors increased their share in Alpine Immune Sciences, Inc. (NASDAQ:ALPN) and TELA Bio, Inc. (NASDAQ:TELA).
The total value of the shares bought is estimated at around $2 million.

Orbimed Advisors also reduced their share in ESSA Pharma Inc . (NASDAQ:EPIX) and 89bio, Inc. (NASDAQ:ETNB).
The total value of the shares sold is estimated at around $54 million.

Additionally, Orbimed Advisors established new holdings in Fusion Pharmaceuticals Inc. (FUSN).
The total value of the shares bought is estimated at around $52 million.

Orbimed Advisors increased stake in Adicet Bio, Inc.

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