Adicet Bio (NASDAQ:ACET) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Adicet Bio, Inc. (NASDAQ:ACET)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.78 and traded as high as $8.43. Adicet Bio shares last traded at $8.2530, with a volume of 92,133 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ACET shares. Weiss Ratings raised Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Jefferies Financial Group started coverage on Adicet Bio in a report on Tuesday, May 5th. They set a “buy” rating and a $19.00 price target for the company. Finally, Wall Street Zen upgraded Adicet Bio from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. One 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Adicet Bio currently has a consensus rating of “Moderate Buy” and an average target price of $48.80.

Adicet Bio Price Performance

The business’s 50-day simple moving average is $8.28 and its two-hundred day simple moving average is $7.78. The stock has a market cap of $77.17 million, a price-to-earnings ratio of -0.55 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.

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

Institutional Trading of Adicet Bio

Several hedge funds and other institutional investors have recently made changes to their positions in ACET. NewEdge Advisors LLC bought a new position in Adicet Bio in the 1st quarter valued at approximately $26,000. Susquehanna International Group LLP bought a new position in shares of Adicet Bio during the third quarter valued at $33,000. Squarepoint Ops LLC acquired a new position in shares of Adicet Bio during the third quarter worth $38,000. FNY Investment Advisers LLC acquired a new position in shares of Adicet Bio during the fourth quarter worth $51,000. Finally, Virtu Financial LLC acquired a new stake in Adicet Bio in the third quarter valued at $65,000. 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.