Adicet Bio (NASDAQ:ACET) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Adicet Bio shares moved above their 200-day moving average, trading as high as $9.15 before last changing hands at $8.55. The move comes alongside a recent pullback of about 3.2% and places the stock above both its 50-day and 200-day averages.
• Analyst sentiment remains mixed but leans positive, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $48.80. Recent reports included upgrades from Wall Street Zen, Weiss Ratings, and Truist Financial, though HC Wainwright lowered its price target.
• Adicet Bio reported a narrower-than-expected quarterly loss, posting EPS of ($1.88) versus estimates of ($2.93). Institutional ownership is also high, with hedge funds and other investors holding about 83.89% of the company’s shares.

Shares of 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 $7.78 and traded as high as $9.15. Adicet Bio shares last traded at $8.55, with a volume of 116,361 shares.

Wall Street Analysts Forecast Growth

ACET has been the topic of a number of research 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 upgraded shares of Adicet Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, May 26th. Truist Financial upgraded Adicet Bio to a "strong-buy" rating in a report on Wednesday, March 25th. HC Wainwright reduced their price objective on Adicet Bio from $50.00 to $27.00 and set a "buy" rating for the company in a report on Monday, March 23rd. Finally, Jefferies Financial Group began coverage on Adicet Bio in a research report on Tuesday, May 5th. They issued a "buy" rating and a $19.00 target price on the stock. One equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.80.

Adicet Bio Stock Down 3.2%

The stock has a fifty day moving average price of $8.23 and a two-hundred day moving average price of $7.78. The company has a market cap of $79.94 million, a price-to-earnings ratio of -0.57 and a beta of 1.58. The company has a quick ratio of 7.65, a current ratio of 7.66 and a debt-to-equity ratio of 0.01.

Adicet Bio (NASDAQ:ACET - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($1.88) EPS for the quarter, beating the consensus estimate of ($2.93) by $1.05. As a group, sell-side analysts expect that Adicet Bio, Inc. will post -8.61 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC acquired a new stake in shares of Adicet Bio in the first quarter valued at approximately $26,000. Rangeley Capital LLC boosted its stake in shares of Adicet Bio by 124.0% in the first quarter. Rangeley Capital LLC now owns 56,000 shares of the company's stock valued at $381,000 after buying an additional 30,999 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Adicet Bio during the first quarter worth approximately $73,000. Luminus Management LLC acquired a new stake in Adicet Bio during the fourth quarter worth approximately $501,000. Finally, ADAR1 Capital Management LLC acquired a new stake in Adicet Bio during the fourth quarter worth approximately $1,083,000. 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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