Adicet Bio (NASDAQ:ACET) Stock Price Passes Below 200-Day Moving Average of $2.08

Shares of Adicet Bio, Inc. (NASDAQ:ACET) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.08 and traded as low as $1.15. Adicet Bio shares last traded at $1.15, with a volume of 1,643,657 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Adicet Bio in a research note on Monday, June 24th. Canaccord Genuity Group reissued a “buy” rating and set a $19.00 target price on shares of Adicet Bio in a research note on Wednesday, March 20th. Wedbush reissued an “outperform” rating and set a $5.00 target price on shares of Adicet Bio in a research note on Wednesday, May 15th. Finally, StockNews.com raised shares of Adicet Bio to a “sell” rating in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.20.

Adicet Bio Stock Performance

The stock has a market capitalization of $94.50 million, a PE ratio of -0.39 and a beta of 1.80. The stock’s 50 day moving average is $1.49 and its two-hundred day moving average is $2.08.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.35) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.35). Equities research analysts expect that Adicet Bio, Inc. will post -1.37 EPS for the current fiscal year.

Institutional Trading of Adicet Bio

A number of hedge funds have recently bought and sold shares of the business. RA Capital Management L.P. acquired a new stake in Adicet Bio in the 1st quarter valued at about $17,721,000. Vanguard Group Inc. raised its holdings in Adicet Bio by 85.5% in the 1st quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock valued at $7,347,000 after acquiring an additional 1,441,503 shares during the last quarter. Carlyle Group Inc. raised its holdings in Adicet Bio by 39.4% in the 1st quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock valued at $6,900,000 after acquiring an additional 833,333 shares during the last quarter. Blackstone Inc. acquired a new stake in Adicet Bio in the 1st quarter valued at about $2,906,000. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Adicet Bio by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 81,986 shares of the company’s stock worth $155,000 after buying an additional 20,790 shares during the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.

Adicet Bio Company Profile

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.