Adicet Bio (NASDAQ:ACET) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Adicet Bio, Inc. (NASDAQ:ACET) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.72 and traded as low as $0.4859. Adicet Bio shares last traded at $0.5110, with a volume of 1,385,602 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACET. Jefferies Financial Group upgraded shares of Adicet Bio to a “strong-buy” rating in a research report on Tuesday, October 7th. HC Wainwright lifted their price target on shares of Adicet Bio from $4.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Wedbush restated an “outperform” rating and issued a $5.00 price objective on shares of Adicet Bio in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adicet Bio in a research note on Thursday, October 30th. Finally, Guggenheim boosted their target price on Adicet Bio from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.33.

Adicet Bio Trading Down 1.6%

The firm has a market capitalization of $78.32 million, a price-to-earnings ratio of -0.41 and a beta of 1.61. The business’s fifty day moving average is $0.64 and its 200 day moving average is $0.71. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.01.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Wednesday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). Equities analysts predict that Adicet Bio, Inc. will post -1.39 earnings per share for the current year.

Hedge Funds Weigh In On Adicet Bio

Several hedge funds have recently made changes to their positions in ACET. Susquehanna International Group LLP bought a new stake in shares of Adicet Bio in the third quarter worth $33,000. Squarepoint Ops LLC acquired a new stake in Adicet Bio in the 3rd quarter valued at $38,000. Vontobel Holding Ltd. lifted its position in Adicet Bio by 33.3% during the 2nd quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after buying an additional 20,000 shares in the last quarter. Virtu Financial LLC bought a new stake in Adicet Bio during the 3rd quarter worth about $65,000. Finally, Wealthedge Investment Advisors LLC boosted its stake in shares of Adicet Bio by 37.4% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock worth $191,000 after buying an additional 85,307 shares during the last quarter. 83.89% of the stock is 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.