Adicet Bio (NASDAQ:ACET) Stock Passes Below 200 Day Moving Average – Here’s What Happened

Adicet Bio, Inc. (NASDAQ:ACET)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.17 and traded as low as $7.05. Adicet Bio shares last traded at $7.61, with a volume of 93,711 shares trading hands.

Analyst Ratings Changes

ACET has been the topic of a number of analyst reports. Canaccord Genuity Group set a $18.00 price objective on Adicet Bio and gave the company a “buy” rating in a research note on Tuesday, January 6th. HC Wainwright reaffirmed a “buy” rating and set a $50.00 price target (up from $9.00) on shares of Adicet Bio in a research note on Wednesday, January 21st. Citigroup reiterated a “market perform” rating on shares of Adicet Bio in a report on Wednesday, November 19th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adicet Bio in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Adicet Bio Price Performance

The company has a 50-day moving average of $7.71 and a two-hundred day moving average of $10.17. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.62 and a quick ratio of 5.62. The stock has a market capitalization of $72.90 million, a PE ratio of -0.38 and a beta of 1.56.

Institutional Investors Weigh In On Adicet Bio

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in Adicet Bio by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after purchasing an additional 63,691 shares during the period. Two Sigma Investments LP increased its holdings in shares of Adicet Bio by 66.6% during the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock worth $692,000 after buying an additional 341,761 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Adicet Bio in the 4th quarter worth $5,276,000. Citadel Advisors LLC raised its position in shares of Adicet Bio by 19.8% in the 3rd quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock worth $473,000 after buying an additional 96,342 shares during the period. Finally, Wealthedge Investment Advisors LLC boosted its holdings in Adicet Bio by 37.4% in the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after acquiring an additional 85,307 shares during the last quarter. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

Adicet Bio Company Profile

Adicet Bio, Inc (NASDAQ: ACET) is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of γδ T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of γδ T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.

Adicet’s lead product candidate, ADI-001, is a CAR‐engineered allogeneic γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.