Adicet Bio Inc. (ACET) may enjoy gains as insiders got busy in the recent days

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Adicet Bio Inc.’s filing revealed that its President & CEO Schor Chen unloaded Company’s shares for reported $0.45 million on Nov 03. In the deal valued at $18.04 per share,24,813 shares were sold. As a result of this transaction, Schor Chen now holds 113,424 shares worth roughly $ 2.03 million.


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Then, Schor Chen sold 500 shares, generating $9,000 in total proceeds. Upon selling the shares at $18.00, the President & CEO now owns 138,237 shares.

Before that, Aftab Blake sold 8,067 shares. Adicet Bio Inc. shares valued at $131,250 were divested by the Chief Scientific Officer at a price of $16.27 per share. As a result of the transaction, Aftab Blake now holds 35,176 shares, worth roughly $0.63 million.

JP Morgan initiated its Adicet Bio Inc. [ACET] rating to an Overweight in a research note published on Friday, September 21, 2022; the price target was $23. PT values the company’s stock at a premium of 22.3 to its Friday closing price. A number of analysts have revised their coverage, including SMBC Nikko’s analysts, who began to cover the stock in late March with a ‘”an Outperform”‘ rating. Truist began covering ACET with “Buy” recommendation on March 08, 2022. Jefferies started covering the stock on March 04, 2022. It rated ACET as “a Buy”.

Price Performance Review of ACET

On Friday, Adicet Bio Inc. [NASDAQ:ACET] saw its stock fall -1.54% to $17.87. On the same session, the stock had its day’s lowest price of $17.30, but rose to a high of $19.00. Over the last five days, the stock has gained 3.96%. Adicet Bio Inc. shares have risen nearly 2.17% since the year began. Nevertheless, the stocks have risen 93.61% over the past one year. While a 52-week high of $21.17 was reached on 04/04/22, a 52-week low of $9.04 was recorded on 05/20/22. SMA at 50 days reached $15.61, while 200 days put it at $14.84. A total of 0.63 million shares were traded, compared to the trading of 0.67 million shares in the previous session.

Levels Of Support And Resistance For ACET Stock

The 24-hour chart illustrates a support level at 17.11, which if violated will result in even more drops to 16.36. On the upside, there is a resistance level at 18.81. A further resistance level may holdings at 19.76. The Relative Strength Index (RSI) on the 14-day chart is 59.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.90, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 34.88%. Stochastics %K at 77.25% indicates the stock is a holding.

How much short interest is there in Adicet Bio Inc.?

A steep rise in short interest was recorded in Adicet Bio Inc. stocks on Jul 14, 2022, dropping by -0.45 million shares to a total of 5.29 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 5.74 million shares. There was a decline of -8.51%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 18.14% of the overall stock float, the days-to-cover ratio (short ratio) fell to 10.27.

Adicet Bio Inc. [ACET] – Who Are The Largest Shareholders?

In filings from RTW Investments LP, it is revealed that the company now owns 3,951,281 shares, or roughly 9.87% of the outstanding ACET shares. In other words, the investor’s shares have risen by 961,799 from its previous 13-F filing of 2989482.0. Additionally, Cowen & Co. LLC increased 62.91% of its stake after which the total value it holdings stand at $34,750,552. Over the last quarter, Cormorant Asset Management LP purchased 1,050,000 shares of Adicet Bio Inc., while BlackRock Fund Advisors bought 175,756 shares. At present, Morgan Stanley & Co. LLC is holding 1,589,197 shares valued at $22.6 million. Polar Capital LLP owned 1,543,670 shares of the company at the time of its most recent 13F filing, worth $21.95 million.

The most recent change occurred on May 18, 2021 when BTIG Research began covering the stock and recommended ‘”a Buy”‘ rating along with a $34 price target.

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