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

Adicet Bio, Inc. (NASDAQ:ACET)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred 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 trading hands.

Wall Street Analysts Forecast Growth

ACET has been the subject of a number of research reports. StockNews.com raised shares of Adicet Bio to a “sell” rating in a report on Monday, May 20th. Wedbush reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Adicet Bio in a report on Wednesday, May 15th. Canaccord Genuity Group reissued a “buy” rating and set a $19.00 price target on shares of Adicet Bio in a report on Wednesday, March 20th. Finally, HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Adicet Bio in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $14.20.

Adicet Bio Stock Down 5.0 %

The stock has a market capitalization of $94.50 million, a PE ratio of -0.39 and a beta of 1.80. The firm’s fifty day moving average is $1.49 and its 200-day moving average is $2.08.

Adicet Bio (NASDAQ:ACET) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.35) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.35). On average, analysts expect that Adicet Bio, Inc. will post -1.37 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ACET. RA Capital Management L.P. acquired a new position in Adicet Bio during the first quarter worth about $17,721,000. Vanguard Group Inc. grew its position in Adicet Bio by 85.5% during the first quarter. Vanguard Group Inc. now owns 3,126,578 shares of the company’s stock worth $7,347,000 after buying an additional 1,441,503 shares during the period. Blackstone Inc. acquired a new stake in shares of Adicet Bio in the first quarter valued at approximately $2,906,000. Carlyle Group Inc. grew its position in shares of Adicet Bio by 39.4% in the first quarter. Carlyle Group Inc. now owns 2,948,718 shares of the company’s stock valued at $6,900,000 after purchasing an additional 833,333 shares during the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Adicet Bio in the fourth quarter valued at approximately $98,000. 83.89% of the stock is currently owned by institutional investors and hedge funds.

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.