Adicet Bio (NASDAQ:ACET) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• Adicet Bio's share price has recently crossed above its 200-day moving average, trading as high as $0.84, with the last recorded price at $0.83.
• Several equities analysts have rated Adicet Bio with positive outlooks, including a "strong-buy" rating from HC Wainwright with a target price of $4.00 and a "buy" rating from Guggenheim with a target of $7.00.
• Institutional investors own approximately 83.89% of Adicet Bio, with several hedge funds increasing their stakes significantly, indicating strong institutional interest in the stock.

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.70 and traded as high as $0.84. Adicet Bio shares last traded at $0.83, with a volume of 453,258 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ACET shares. HC Wainwright raised Adicet Bio to a "strong-buy" rating and set a $4.00 target price on the stock in a research report on Wednesday, July 23rd. Guggenheim reissued a "buy" rating and set a $7.00 target price on shares of Adicet Bio in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Adicet Bio currently has an average rating of "Buy" and a consensus price target of $5.33.

Adicet Bio Trading Down 1.1%

The business has a 50-day moving average of $0.74 and a two-hundred day moving average of $0.70. The firm has a market cap of $69.16 million, a P/E ratio of -0.63 and a beta of 1.66.

Adicet Bio (NASDAQ:ACET - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.02). As a group, equities analysts expect that Adicet Bio, Inc. will post -1.39 EPS for the current year.

Hedge Funds Weigh In On Adicet Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp raised its position in shares of Adicet Bio by 25.1% during the fourth quarter. Northern Trust Corp now owns 140,369 shares of the company's stock worth $135,000 after purchasing an additional 28,153 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Adicet Bio by 12.4% in the fourth quarter. Two Sigma Advisers LP now owns 794,039 shares of the company's stock valued at $764,000 after buying an additional 87,400 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Adicet Bio during the fourth quarter valued at about $177,000. Wealthedge Investment Advisors LLC grew its holdings in shares of Adicet Bio by 208.8% during the first quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company's stock valued at $172,000 after buying an additional 154,037 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position 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 worth $2,882,000 after acquiring an additional 63,691 shares in the last quarter. Institutional investors 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.

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