Adicet Bio (NASDAQ:ACET) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Adicet Bio shares rose above their 200-day moving average, reaching $8.43 before closing at $8.2530, compared with a 200-day average of $7.78.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $48.80; Jefferies initiated coverage with a Buy rating and a $19 target.
• The company reported a quarterly loss of $1.88 per share, beating estimates by $1.05, while institutional investors own 83.89% of the stock and recently increased their positions.

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of Adicet Bio from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of Adicet Bio from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Jefferies Financial Group assumed coverage on shares of Adicet Bio in a report on Tuesday, May 5th. They set a "buy" rating and a $19.00 target price 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.80.

Adicet Bio Price Performance

The company has a quick ratio of 7.65, a current ratio of 7.66 and a debt-to-equity ratio of 0.01. The company's 50 day moving average is $8.28 and its 200 day moving average is $7.78. The firm has a market capitalization of $77.17 million, a price-to-earnings ratio of -0.55 and a beta of 1.58.

Adicet Bio (NASDAQ:ACET - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($1.88) earnings per share for the quarter, topping the consensus estimate of ($2.93) by $1.05. On average, equities research analysts anticipate that Adicet Bio, Inc. will post -8.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adicet Bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. bought a new position in shares of Adicet Bio in the fourth quarter worth $5,276,000. Two Sigma Investments LP lifted its position in Adicet Bio by 66.6% during the third quarter. Two Sigma Investments LP now owns 854,568 shares of the company's stock worth $692,000 after purchasing an additional 341,761 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Adicet Bio during the fourth quarter worth about $2,310,000. Prosight Management LP acquired a new stake in Adicet Bio during the fourth quarter worth about $2,107,000. Finally, NEXTBio Capital Management LP acquired a new stake in Adicet Bio during the fourth quarter worth about $1,329,000. 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.

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