Adicet Bio (NASDAQ:ACET) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Adicet Bio, Inc. (NASDAQ:ACET)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.11 and traded as low as $7.87. Adicet Bio shares last traded at $8.28, with a volume of 137,944 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ACET shares. Canaccord Genuity Group set a $18.00 price objective on shares of Adicet Bio and gave the company a “buy” rating in a report on Tuesday, January 6th. Jefferies Financial Group raised shares of Adicet Bio to a “strong-buy” rating in a report on Tuesday, October 7th. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective (up from $9.00) on shares of Adicet Bio in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $80.00 price target on shares of Adicet Bio in a report on Thursday, November 6th. Finally, Citigroup reissued a “market perform” rating on shares of Adicet Bio in a research note on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Adicet Bio Stock Performance

The firm has a market cap of $77.31 million, a PE ratio of -0.40 and a beta of 1.60. The business has a 50 day simple moving average of $8.66 and a two-hundred day simple moving average of $11.10. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.01.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($4.64) EPS for the quarter, missing the consensus estimate of ($4.16) by ($0.48). As a group, equities research analysts forecast that Adicet Bio, Inc. will post -1.39 earnings per share for the current fiscal year.

Institutional Trading of Adicet Bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its position 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 valued at $2,882,000 after purchasing an additional 63,691 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Adicet Bio by 33.3% in the 2nd quarter. Vontobel Holding Ltd. now owns 80,000 shares of the company’s stock valued at $49,000 after buying an additional 20,000 shares in the last quarter. Wealthedge Investment Advisors LLC grew its position in shares of Adicet Bio by 37.4% in the 2nd quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock worth $191,000 after buying an additional 85,307 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Adicet Bio during the 3rd quarter worth approximately $38,000. Finally, Two Sigma Investments LP raised its stake in shares of Adicet Bio by 66.6% during the 3rd quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock worth $692,000 after acquiring an additional 341,761 shares in the last quarter. Institutional investors own 83.89% of the company’s stock.

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.