Adicet Bio (NASDAQ:ACET) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

Adicet Bio, Inc. (NASDAQ:ACET) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.22 and traded as low as $8.07. Adicet Bio shares last traded at $8.45, with a volume of 116,371 shares traded.

Wall Street Analyst Weigh In

Several research firms have issued reports on ACET. HC Wainwright lifted their price target on shares of Adicet Bio from $64.00 to $144.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Canaccord Genuity Group set a $18.00 target price on Adicet Bio and gave the stock a “buy” rating in a report on Tuesday. Guggenheim boosted their target price on Adicet Bio from $112.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, Wedbush reissued an “outperform” rating and issued a $80.00 price target on shares of Adicet Bio in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.50.

Adicet Bio Stock Performance

The firm’s fifty day moving average is $9.20 and its 200 day moving average is $11.22. The firm has a market capitalization of $80.95 million, a price-to-earnings ratio of -0.42 and a beta of 1.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.62 and a quick ratio of 5.62.

Adicet Bio (NASDAQ:ACET) last released its earnings results on Wednesday, November 5th. The company reported ($4.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($4.16) by ($0.48). On average, analysts predict that Adicet Bio, Inc. will post -1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ACET. Susquehanna International Group LLP acquired a new stake in shares of Adicet Bio during the 3rd quarter valued at about $33,000. Squarepoint Ops LLC bought a new position in Adicet Bio during the third quarter valued at approximately $38,000. Vontobel Holding Ltd. lifted its stake in Adicet Bio by 33.3% in the second quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock valued at $49,000 after acquiring an additional 20,000 shares during the last quarter. Virtu Financial LLC bought a new stake in Adicet Bio in the third quarter worth approximately $65,000. Finally, Wealthedge Investment Advisors LLC increased its stake 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. 83.89% of the stock is owned by institutional investors and hedge funds.

About Adicet Bio

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.