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

Adicet Bio, Inc. (NASDAQ:ACET) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $9.43 and traded as low as $6.83. Adicet Bio shares last traded at $6.90, with a volume of 78,312 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ACET shares. HC Wainwright lowered their price target on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Truist Financial raised shares of Adicet Bio to a “strong-buy” rating in a report on Wednesday, March 25th. Canaccord Genuity Group set a $18.00 price target on shares of Adicet Bio and gave the company a “buy” rating in a report on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adicet Bio in a report on Tuesday, January 27th. Finally, Guggenheim lowered their price target on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating for the company in a report on Friday, March 13th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.25.

Adicet Bio Trading Down 1.3%

The stock has a market capitalization of $66.24 million, a P/E ratio of -0.38 and a beta of 1.57. The stock’s 50 day simple moving average is $7.19 and its 200 day simple moving average is $9.43.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($2.94) EPS for the quarter, beating analysts’ consensus estimates of ($3.23) by $0.29. On average, sell-side analysts expect that Adicet Bio, Inc. will post -1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Prosight Management LP bought a new position in shares of Adicet Bio in the 4th quarter worth about $2,107,000. ADAR1 Capital Management LLC bought a new position in shares of Adicet Bio in the 4th quarter worth about $1,083,000. Two Sigma Investments LP lifted its position in shares of Adicet Bio by 66.6% in the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock worth $692,000 after buying an additional 341,761 shares during the last quarter. Burkehill Global Management LP bought a new position in shares of Adicet Bio in the 4th quarter worth about $526,000. Finally, Luminus Management LLC bought a new position in shares of Adicet Bio in the 4th quarter worth about $501,000. 83.89% of the stock is currently owned by institutional investors.

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.