Adicet Bio (NASDAQ:ACET) Shares Break Above 200-Day Moving Average - Should You Sell?

Key Points

• Adicet Bio shares rose 9.1%, trading as high as $9.11 and breaking above the 200-day moving average of $8.18.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $46.80, despite ratings ranging from Strong Buy to Sell.
• The company missed its latest quarterly EPS estimate, reporting a loss of $1.99 versus the expected $1.69 loss; institutional investors own approximately 83.89% of the stock.

Adicet Bio, Inc. (NASDAQ:ACET - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $8.18 and traded as high as $9.11. Adicet Bio shares last traded at $9.02, with a volume of 602,833 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on ACET. Jefferies Financial Group raised Adicet Bio to a "strong-buy" rating in a research note on Tuesday, September 1st. Guggenheim reissued a "buy" rating and issued a $90.00 price objective (down from $100.00) on shares of Adicet Bio in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of Adicet Bio from a "sell" rating to a "hold" rating in a report on Saturday. HC Wainwright restated a "buy" rating and set a $27.00 target price on shares of Adicet Bio in a report on Friday, September 18th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Adicet Bio in a research report on Friday, August 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Adicet Bio has an average rating of "Moderate Buy" and a consensus target price of $46.80.

Adicet Bio Trading Up 9.1%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.71 and a current ratio of 6.71. The business has a fifty day simple moving average of $8.85 and a 200 day simple moving average of $8.18. The stock has a market cap of $84.43 million, a price-to-earnings ratio of -0.79 and a beta of 1.58.

Adicet Bio (NASDAQ:ACET - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.69) by ($0.30). As a group, equities analysts anticipate that Adicet Bio, Inc. will post -6.76 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new stake in shares of Adicet Bio during the second quarter worth about $132,000. AXQ Capital LP purchased a new position in shares of Adicet Bio during the second quarter valued at approximately $95,000. Regeneron Pharmaceuticals Inc. acquired a new stake in Adicet Bio during the second quarter worth approximately $522,819. Johnson & Johnson acquired a new stake in Adicet Bio during the second quarter worth approximately $196,811. Finally, NewEdge Advisors LLC purchased a new stake in Adicet Bio in the 1st quarter worth approximately $26,000. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

Adicet Bio Company Profile

Adicet Bio, Inc is a clinical-stage biotechnology company developing allogeneic T-cell therapies for the treatment of cancer. Its platform is based on gamma delta T cells, a type of immune cell that may be engineered to recognize and attack tumor cells while potentially offering advantages associated with off-the-shelf cell therapies.

The company's pipeline has included investigational CAR T-cell products designed to target specific cancer antigens, including ADI-001, an anti-CD19 therapy developed for B-cell malignancies.

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