Adicet Bio (NASDAQ:ACET) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Adicet Bio, Inc. (NASDAQ:ACET) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.72 and traded as high as $0.91. Adicet Bio shares last traded at $0.86, with a volume of 862,677 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Adicet Bio in a research report on Wednesday, October 8th. Jefferies Financial Group raised Adicet Bio to a “strong-buy” rating in a research report on Tuesday, October 7th. Guggenheim raised their target price on Adicet Bio from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, HC Wainwright upgraded Adicet Bio to a “strong-buy” rating and set a $4.00 price target on the stock in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $5.67.

Adicet Bio Price Performance

The stock has a market capitalization of $71.69 million, a PE ratio of -0.66 and a beta of 1.62. The stock has a 50 day moving average of $0.82 and a two-hundred day moving average of $0.72.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). As a group, research analysts predict that Adicet Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of Adicet Bio

Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in Adicet Bio by 1.8% during the first quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company’s stock worth $1,538,000 after purchasing an additional 36,277 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Adicet Bio by 33.3% during the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after purchasing an additional 20,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its position 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 in the last quarter. Finally, Wealthedge Investment Advisors LLC boosted its position in Adicet Bio by 208.8% during the first quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company’s stock worth $172,000 after purchasing an additional 154,037 shares in the last quarter. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

About Adicet Bio

Adicet Bio, Inc, a clinical stage biotechnology company, discovers and develops allogeneic gamma delta T cell therapies for autoimmune diseases and cancer. The company offers gamma delta T cells engineered with chimeric antigen receptors (CARs) to facilitate durable activity in patients. Its lead product candidate is ADI-001, an allogeneic gamma delta T cell therapy expressing a CAR targeting CD20, which is in Phase I clinical trial for the treatment of autoimmune diseases and relapsed or refractory aggressive B cell non-Hodgkin's lymphoma.