Adicet Bio (NASDAQ:ACET) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Adicet Bio, Inc. (NASDAQ:ACET)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Analyst Ratings Changes

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

Adicet Bio Stock Performance

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 has a fifty day simple moving average of $8.31 and a 200 day simple moving average of $7.79. The company has a market capitalization of $85.18 million, a price-to-earnings ratio of -0.61 and a beta of 1.58.

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

Hedge Funds Weigh In On Adicet Bio

A number of large investors have recently added to or reduced their stakes in ACET. NewEdge Advisors LLC acquired a new stake in shares of Adicet Bio in the first quarter valued at about $26,000. Rangeley Capital LLC raised its position in shares of Adicet Bio by 124.0% during the 1st quarter. Rangeley Capital LLC now owns 56,000 shares of the company’s stock worth $381,000 after purchasing an additional 30,999 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Adicet Bio during the 1st quarter worth about $73,000. Luminus Management LLC purchased a new position in Adicet Bio in the 4th quarter valued at about $501,000. Finally, ADAR1 Capital Management LLC purchased a new position in Adicet Bio in the 4th quarter valued at about $1,083,000. 83.89% of the stock is currently owned by institutional investors and hedge funds.

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.