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

Key Points

• Adicet Bio shares moved above their 200-day moving average, trading as high as $8.31 and last changing hands at $8.12, up about 2.9% on the day.
• Analyst sentiment has improved overall, with Jefferies starting coverage at a buy rating and several firms issuing positive or upgraded views; MarketBeat shows a consensus rating of “Moderate Buy” and a $48.80 target price.
• The company remains a small, early-stage biotech with mixed fundamentals, including a market cap of about $75.9 million and a recent quarterly loss of $1.88 per share, though that beat analyst expectations.

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.78 and traded as high as $8.31. Adicet Bio shares last traded at $8.12, with a volume of 43,195 shares.

Analysts Set New Price Targets

ACET has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Adicet Bio in a research report on Tuesday, May 5th. They issued a "buy" rating and a $19.00 price target on the stock. Truist Financial raised Adicet Bio to a "strong-buy" rating in a research report on Wednesday, March 25th. Wall Street Zen raised Adicet Bio from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Weiss Ratings raised Adicet Bio from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Adicet Bio presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.80.

Adicet Bio Trading Up 2.9%

The firm has a market capitalization of $75.92 million, a price-to-earnings ratio of -0.54 and a beta of 1.58. The business's 50 day moving average price is $8.23 and its 200-day moving average price is $7.78. 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 - Get Free Report) last announced 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. Equities analysts forecast that Adicet Bio, Inc. will post -8.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC purchased a new position in shares of Adicet Bio in the 1st quarter valued at about $26,000. Susquehanna International Group LLP acquired a new stake in shares of Adicet Bio in the third quarter valued at about $33,000. Squarepoint Ops LLC purchased a new stake in Adicet Bio during the third quarter worth about $38,000. FNY Investment Advisers LLC purchased a new stake in Adicet Bio during the fourth quarter worth about $51,000. Finally, Virtu Financial LLC acquired a new position in Adicet Bio during the third quarter worth about $65,000. Institutional investors and hedge funds own 83.89% of the company's stock.

About Adicet Bio

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.

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