In a filing, Adicet Bio Inc revealed its Director ORBIMED ADVISORS LLC acquired Company’s shares for reported $7.5 million on Jan 25 ’24. In the deal valued at $2.40 per share,3,125,000 shares were bought. As a result of this transaction, ORBIMED ADVISORS LLC now holds 7,526,359 shares worth roughly $16.48 million.
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Then, GORDON CARL L bought 3,125,000 shares, generating $7,500,000 in total proceeds. Upon buying the shares at $2.40, the Director now owns 7,526,359 shares.
Before that, Schor Chen bought 5,500 shares. Adicet Bio Inc shares valued at $7,340 were divested by the President & CEO at a price of $1.33 per share. As a result of the transaction, Schor Chen now holds 43,469 shares, worth roughly $95197.11.
JMP Securities downgraded its Adicet Bio Inc [ACET] rating to a Mkt perform from a a Mkt outperform in a research note published recently. A number of analysts have revised their coverage, including Guggenheim’s analysts, who decreased its forecast for the stock in late June from “a Buy” to “a Neutral”. JP Morgan also remained covering ACET and has decreased its forecast on June 01, 2023 with a “Neutral” recommendation from previously “an Overweight” rating. JP Morgan started covering the stock on September 21, 2022. It rated ACET as “an Overweight”.
Price Performance Review of ACET
On Friday, Adicet Bio Inc [NASDAQ:ACET] saw its stock jump 7.35% to $2.19. Over the last five days, the stock has gained 9.50%. Adicet Bio Inc shares have risen nearly 15.87% since the year began. Nevertheless, the stocks have fallen -63.38% over the past one year. While a 52-week high of $7.50 was reached on 01/09/24, a 52-week low of $1.10 was recorded on 01/03/24. SMA at 50 days reached $2.62, while 200 days put it at $2.23. A total of 0.94 million shares were traded, compared to the trading of 1.74 million shares in the previous session.
Levels Of Support And Resistance For ACET Stock
The 24-hour chart illustrates a support level at 2.06, which if violated will result in even more drops to 1.93. On the upside, there is a resistance level at 2.28. A further resistance level may holdings at 2.37. The Relative Strength Index (RSI) on the 14-day chart is 44.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 51.18%. Stochastics %K at 37.49% 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 Feb 29, 2024, growing by 1.77 million shares to a total of 5.66 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 3.89 million shares. There was a rise of 31.27%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.99% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.96.
The most recent change occurred on March 31, 2022 when SMBC Nikko began covering the stock and recommended ‘”an Outperform”‘ rating along with a $28 price target.
