Adicet Bio (NASDAQ:ACET) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.77 and traded as high as $0.78. Adicet Bio shares last traded at $0.78, with a volume of 366,169 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ACET shares. Wall Street Zen started coverage on Adicet Bio in a research note on Friday, May 16th. They set a "hold" rating for the company. Guggenheim restated a "buy" rating and set a $7.00 price objective on shares of Adicet Bio in a research note on Friday, March 21st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $7.50.

Adicet Bio Stock Down 3.8%

The company has a market cap of $62.86 million, a P/E ratio of -0.58 and a beta of 1.62. The company has a 50 day moving average price of $0.70 and a 200-day moving average price of $0.77.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.03. On average, research analysts expect that Adicet Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of Adicet Bio

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Adicet Bio by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company's stock valued at $2,882,000 after purchasing an additional 63,691 shares during the last quarter. Acadian Asset Management LLC increased its position in Adicet Bio by 1.8% in the 1st 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 during the last quarter. Bridgeway Capital Management LLC increased its position in Adicet Bio by 20.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,026,600 shares of the company's stock worth $988,000 after purchasing an additional 175,000 shares during the last quarter. Two Sigma Advisers LP increased its position in Adicet Bio by 12.4% in the 4th quarter. Two Sigma Advisers LP now owns 794,039 shares of the company's stock worth $764,000 after purchasing an additional 87,400 shares during the last quarter. Finally, Stonepine Capital Management LLC increased its position in Adicet Bio by 14.9% in the 4th quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company's stock worth $673,000 after purchasing an additional 90,554 shares during the last quarter. Institutional investors and hedge funds own 83.89% of the company's stock.

Adicet Bio Company Profile

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.