Adicet Bio (NASDAQ:ACET) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Adicet Bio's stock price has recently surpassed its 200-day moving average, indicating a potential bullish trend, with shares trading around $0.80 after reaching a high of $0.83.
• Wall Street analysts' ratings vary, with one analyst giving a Strong Buy rating and a price target of $4.00, while the average rating remains at Buy with a target of $6.00.
• The company reported a quarterly loss of ($0.34) EPS, missing estimates, and has a market capitalization of approximately $66.91 million.

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.71 and traded as high as $0.83. Adicet Bio shares last traded at $0.80, with a volume of 868,330 shares changing hands.

Wall Street Analyst Weigh In

Separately, HC Wainwright upgraded Adicet Bio to a "strong-buy" rating and set a $4.00 price objective for the company in a report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $5.33.

Adicet Bio Price Performance

The stock has a market capitalization of $66.72 million, a price-to-earnings ratio of -0.61 and a beta of 1.66. The business has a 50 day simple moving average of $0.73 and a 200-day simple moving average of $0.70.

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

Institutional Trading of Adicet Bio

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in 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. Acadian Asset Management LLC raised its holdings in Adicet Bio by 1.8% during the first quarter. Acadian Asset Management LLC now owns 2,039,324 shares of the company's stock worth $1,538,000 after acquiring an additional 36,277 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Adicet Bio by 12.4% during the fourth quarter. Two Sigma Advisers LP now owns 794,039 shares of the company's stock worth $764,000 after acquiring an additional 87,400 shares in the last quarter. Stonepine Capital Management LLC raised its holdings in Adicet Bio by 14.9% during the fourth quarter. Stonepine Capital Management LLC now owns 700,000 shares of the company's stock worth $673,000 after acquiring an additional 90,554 shares in the last quarter. Finally, Wealthedge Investment Advisors LLC raised its holdings in Adicet Bio by 37.4% during the second quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company's stock worth $191,000 after acquiring an additional 85,307 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.