Adicet Bio (NASDAQ:ACET) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Adicet Bio, Inc. (NASDAQ:ACET)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.17 and traded as low as $7.05. Adicet Bio shares last traded at $7.61, with a volume of 93,711 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. HC Wainwright reaffirmed 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, January 21st. 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. Citigroup reiterated a “market perform” rating on shares of Adicet Bio in a research note on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Adicet Bio in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Adicet Bio Trading Up 4.4%

The firm has a fifty day moving average of $7.71 and a 200 day moving average of $10.17. The firm has a market capitalization of $72.90 million, a PE ratio of -0.38 and a beta of 1.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.62 and a current ratio of 5.62.

Institutional Trading of Adicet Bio

Hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP purchased a new position in shares of Adicet Bio in the third quarter valued at $33,000. Squarepoint Ops LLC purchased a new stake in Adicet Bio during the 3rd quarter worth $38,000. FNY Investment Advisers LLC acquired a new position in Adicet Bio in the 4th quarter worth $51,000. Virtu Financial LLC acquired a new position in Adicet Bio in the 3rd quarter worth $65,000. Finally, Wealthedge Investment Advisors LLC boosted its position in Adicet Bio by 37.4% in the 2nd quarter. Wealthedge Investment Advisors LLC now owns 313,108 shares of the company’s stock valued at $191,000 after buying an additional 85,307 shares during the last quarter. Hedge funds and other institutional investors own 83.89% of the company’s stock.

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.