Adicet Bio (NASDAQ:ACET) Shares Cross Above 200 Day Moving Average – Time to Sell?

Adicet Bio, Inc. (NASDAQ:ACET)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $0.71 and traded as high as $1.00. Adicet Bio shares last traded at $0.99, with a volume of 2,182,617 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a research report on Tuesday, October 7th. Guggenheim raised their target price on Adicet Bio from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. HC Wainwright upgraded Adicet Bio to a “strong-buy” rating and set a $4.00 target price on the stock in a report on Wednesday, July 23rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adicet Bio in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Adicet Bio presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.67.

Adicet Bio Trading Up 2.7%

The business has a fifty day simple moving average of $0.78 and a two-hundred day simple moving average of $0.71. The stock has a market cap of $82.08 million, a PE ratio of -0.75 and a beta of 1.62.

Adicet Bio (NASDAQ:ACET) last released its quarterly earnings results 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). On average, research analysts predict that Adicet Bio, Inc. will post -1.39 earnings per share for the current year.

Hedge Funds Weigh In On Adicet Bio

Large investors have recently bought and sold shares of the business. Vontobel Holding Ltd. increased its position in shares of Adicet Bio by 33.3% during the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock worth $49,000 after purchasing an additional 20,000 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Adicet Bio by 1.8% in 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 during the period. Goldman Sachs Group Inc. raised its position in shares of Adicet Bio by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after purchasing an additional 63,691 shares during the last quarter. Finally, Wealthedge Investment Advisors LLC raised its position in shares of Adicet Bio by 37.4% during the 2nd quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock worth $191,000 after purchasing an additional 85,307 shares during 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.