Adicet Bio (NASDAQ:ACET) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Adicet Bio, Inc. (NASDAQ:ACET)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $7.78 and traded as high as $8.31. Adicet Bio shares last traded at $8.12, with a volume of 43,195 shares traded.

Analyst Ratings Changes

ACET has been the subject of several research analyst reports. Wall Street Zen raised Adicet Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, May 26th. Truist Financial raised Adicet Bio to a “strong-buy” rating in a report on Wednesday, March 25th. Finally, Jefferies Financial Group initiated coverage on Adicet Bio in a research report on Tuesday, May 5th. They issued a “buy” rating and a $19.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $48.80.

Adicet Bio Stock Performance

The company has a current ratio of 7.66, a quick ratio of 7.65 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $75.92 million, a PE ratio of -0.54 and a beta of 1.58. The stock’s 50 day moving average price is $8.23 and its two-hundred day moving average price is $7.78.

Adicet Bio (NASDAQ:ACET) last posted its earnings results on Wednesday, May 13th. The company reported ($1.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.93) by $1.05. On average, equities analysts expect that Adicet Bio, Inc. will post -8.61 earnings per share for the current year.

Institutional Trading of Adicet Bio

Large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC purchased a new position in shares of Adicet Bio during the 1st quarter worth $26,000. FNY Investment Advisers LLC purchased a new stake in shares of Adicet Bio in the fourth quarter valued at $51,000. Squarepoint Ops LLC grew its position in shares of Adicet Bio by 20.0% in the fourth quarter. Squarepoint Ops LLC now owns 55,723 shares of the company’s stock valued at $469,000 after purchasing an additional 9,296 shares during the period. Dimensional Fund Advisors LP purchased a new position in Adicet Bio during the first quarter worth about $73,000. Finally, Rangeley Capital LLC boosted its stake in Adicet Bio by 124.0% in the 1st quarter. Rangeley Capital LLC now owns 56,000 shares of the company’s stock worth $381,000 after buying an additional 30,999 shares during the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.

About Adicet Bio

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.