Adicet Bio (NASDAQ:ACET) Stock Passes Below Two Hundred Day Moving Average - Here's Why

Key Points

• Adicet Bio shares fell below their 200-day moving average of $9.01, trading as low as $8.17 and last at $8.67, with a 50-day average of $7.10 and a market cap of about $83.2 million.
• Analysts are mixed: the consensus is a "Moderate Buy" with an average target of $56.25, but several firms have cut targets recently (e.g., Guggenheim to $100, HC Wainwright to $27) and ratings range from strong-buy to sell.
• Significant insider and institutional activity: Ra Capital bought 74,751 shares (increasing its stake), insiders bought 223,596 shares last quarter, and institutions now own about 83.89% of the company.

Shares of Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.01 and traded as low as $8.17. Adicet Bio shares last traded at $8.67, with a volume of 131,551 shares.

Analyst Ratings Changes

Several equities research analysts have issued reports on ACET shares. Guggenheim dropped their price target on Adicet Bio from $128.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, March 13th. Truist Financial upgraded Adicet Bio to a "strong-buy" rating in a report on Wednesday, March 25th. HC Wainwright decreased their price objective on Adicet Bio from $50.00 to $27.00 and set a "buy" rating on the stock in a report on Monday, March 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Adicet Bio in a report on Tuesday, January 27th. Finally, Canaccord Genuity Group set a $18.00 price objective on Adicet Bio and gave the stock a "buy" rating in a report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.25.

Adicet Bio Stock Up 5.5%

The stock has a market cap of $83.23 million, a PE ratio of -0.48 and a beta of 1.57. The company has a fifty day moving average price of $7.10 and a 200 day moving average price of $9.01.

Adicet Bio (NASDAQ:ACET - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The company reported ($2.94) EPS for the quarter, topping the consensus estimate of ($3.23) by $0.29. As a group, research analysts predict that Adicet Bio, Inc. will post -10.26 earnings per share for the current year.

Insider Transactions at Adicet Bio

In other Adicet Bio news, major shareholder Ra Capital Management, L.P. purchased 74,751 shares of Adicet Bio stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $7.27 per share, for a total transaction of $543,439.77. Following the acquisition, the insider directly owned 1,182,624 shares in the company, valued at approximately $8,597,676.48. This trade represents a 6.75% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders bought 223,596 shares of company stock worth $1,603,934. 4.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new position in Adicet Bio during the 4th quarter valued at about $51,000. Squarepoint Ops LLC increased its holdings in Adicet Bio by 20.0% during the 4th quarter. Squarepoint Ops LLC now owns 55,723 shares of the company's stock valued at $469,000 after purchasing an additional 9,296 shares during the period. Maven Securities LTD purchased a new position in Adicet Bio during the 4th quarter valued at about $263,000. Susquehanna International Group LLP purchased a new position in Adicet Bio during the 3rd quarter valued at about $33,000. Finally, Luminus Management LLC purchased a new position in Adicet Bio during the 4th quarter valued at about $501,000. Hedge funds and other institutional investors own 83.89% of the company's stock.

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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