Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) 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.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on ACET. Wall Street Zen began coverage on shares of Adicet Bio in a report on Friday, May 16th. They set a "hold" rating on the stock. Guggenheim reissued a "buy" rating and issued a $7.00 price target on shares of Adicet Bio in a research note on Friday, March 21st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Adicet Bio currently has an average rating of "Moderate Buy" and a consensus target price of $7.50.
View Our Latest Stock Report on ACET
Adicet Bio Stock Up 2.3%
The firm has a market capitalization of $64.51 million, a price-to-earnings ratio of -0.60 and a beta of 1.62. The business's 50-day simple moving average is $0.70 and its two-hundred day simple moving average is $0.77.
Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.31) earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.03. Sell-side analysts anticipate that Adicet Bio, Inc. will post -1.39 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in ACET. Virtu Financial LLC purchased a new position in shares of Adicet Bio in the fourth quarter valued at approximately $29,000. Wealthedge Investment Advisors LLC purchased a new position in Adicet Bio in the fourth quarter worth approximately $71,000. Northern Trust Corp lifted its stake in Adicet Bio by 25.1% in the fourth quarter. Northern Trust Corp now owns 140,369 shares of the company's stock worth $135,000 after acquiring an additional 28,153 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Adicet Bio by 87.3% in the fourth quarter. JPMorgan Chase & Co. now owns 150,485 shares of the company's stock worth $145,000 after acquiring an additional 70,132 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Adicet Bio in the fourth quarter worth approximately $177,000. Hedge funds and other institutional investors own 83.89% of the company's stock.
About Adicet Bio
(
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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.
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