Adicet Bio (NASDAQ:ACET) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Adicet Bio, Inc. (NASDAQ:ACET)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.78 and traded as high as $9.15. Adicet Bio shares last traded at $8.55, with a volume of 116,361 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Jefferies Financial Group started coverage on Adicet Bio in a report on Tuesday, May 5th. They set a “buy” rating and a $19.00 target price on the stock. Weiss Ratings raised Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Wall Street Zen raised shares of Adicet Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Truist Financial upgraded shares of Adicet Bio to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, HC Wainwright decreased their target price on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.80.

Adicet Bio Trading Down 3.2%

The firm has a market capitalization of $79.94 million, a price-to-earnings ratio of -0.57 and a beta of 1.58. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.66 and a quick ratio of 7.65. The firm’s 50-day simple moving average is $8.23 and its 200 day simple moving average is $7.78.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Wednesday, May 13th. The company reported ($1.88) earnings per share for the quarter, topping the consensus estimate of ($2.93) by $1.05. Equities analysts expect that Adicet Bio, Inc. will post -8.61 earnings per share for the current year.

Institutional Trading of Adicet Bio

Several institutional investors and hedge funds have recently modified their holdings of ACET. NewEdge Advisors LLC bought a new stake in shares of Adicet Bio during the 1st quarter worth $26,000. FNY Investment Advisers LLC bought a new position in shares of Adicet Bio in the fourth quarter worth about $51,000. Dimensional Fund Advisors LP bought a new position in shares of Adicet Bio in the first quarter worth about $73,000. Maven Securities LTD acquired a new stake in shares of Adicet Bio in the 4th quarter valued at approximately $263,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Adicet Bio in the 3rd quarter valued at approximately $33,000. 83.89% of the stock is currently owned by 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.