Adicet Bio (NASDAQ:ACET) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Adicet Bio, Inc. (NASDAQ:ACET) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $0.72 and traded as high as $0.91. Adicet Bio shares last traded at $0.86, with a volume of 862,677 shares.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Adicet Bio in a research report on Wednesday, October 8th. Guggenheim upped their price objective on Adicet Bio from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. HC Wainwright upgraded Adicet Bio to a “strong-buy” rating and set a $4.00 price objective on the stock in a research report on Wednesday, July 23rd. Finally, Jefferies Financial Group upgraded Adicet Bio to a “strong-buy” rating in a research report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Adicet Bio currently has an average rating of “Moderate Buy” and a consensus target price of $5.67.

Adicet Bio Price Performance

The company has a 50-day moving average of $0.82 and a two-hundred day moving average of $0.72. The stock has a market capitalization of $71.69 million, a PE ratio of -0.66 and a beta of 1.62.

Adicet Bio (NASDAQ:ACET) last released its 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 forecast that Adicet Bio, Inc. will post -1.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Adicet Bio

Several large investors have recently added to or reduced their stakes in ACET. Wealthedge Investment Advisors LLC lifted its position in Adicet Bio by 208.8% during the first quarter. Wealthedge Investment Advisors LLC now owns 227,801 shares of the company’s stock worth $172,000 after buying an additional 154,037 shares during the period. Goldman Sachs Group Inc. increased its stake in Adicet Bio by 1.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after acquiring an additional 63,691 shares during the last quarter. Acadian Asset Management LLC increased its stake in Adicet Bio by 1.8% during 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 last quarter. Finally, Vontobel Holding Ltd. increased its stake in 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 acquiring an additional 20,000 shares during the last quarter. 83.89% of the stock is currently owned by hedge funds and other institutional investors.

About Adicet Bio

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.