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Selling Buzz: Adicet Bio Inc [ACET] Director Kauffman Michael sells 5,900 shares of the company


Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Adicet Bio Inc shares valued at $8,437 were sold by Kauffman Michael on Jun 05 ’24. At $1.43 per share, Kauffman Michael sold 5,900 shares. The insider’s holdings dropped to 5,900 shares worth approximately $6608.000000000001 following the completion of this transaction.

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Also, ORBIMED ADVISORS LLC purchased 3,125,000 shares, netting a total of over 7,500,000 in proceeds. Following the buying of shares at $2.40 each, the insider now holds 7,526,359 shares.

Before that, GORDON CARL L had added 3,125,000 shares to its account. In a trade valued at $7,500,000, the Director bought Adicet Bio Inc shares for $2.40 each. Upon closing the transaction, the insider’s holdings increased to 3,125,000 shares, worth approximately $8.43 million.

As published in a research note from JMP Securities on June 27, 2023, Adicet Bio Inc [ACET] has been rated down from a Mkt outperform to a Mkt perform. Analysts at Guggenheim downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in late June. As of June 01, 2023, JP Morgan has decreased its “an Overweight” rating to a “Neutral” for ACET. Earlier on September 21, 2022, JP Morgan initiated its rating. Their recommendation was “an Overweight” for ACET stock.

Analyzing ACET Stock Performance

During the last five days, there has been a drop of approximately -16.48%. Over the course of the year, Adicet Bio Inc shares have dropped approximately -40.78%. Shares of the company reached a 52-week high of $3.7700 on 01/09/24 and a 52-week low of $1.0500 on 07/03/24. A 50-day SMA is recorded $1.4727, while a 200-day SMA reached $1.8371. Nevertheless, trading volume fell to 0.83 million shares from 1.19 million shares the previous day.

Support And Resistance Levels for Adicet Bio Inc (ACET)

According to the 24-hour chart, there is a support level at 1.0533, which, if violated, would cause prices to drop to 1.0167. In the upper region, resistance lies at 1.1233. The next price resistance is at 1.1567. RSI (Relative Strength Index) is 33.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.2002, which suggests the price will decrease in the coming days. Percent R is at 91.40%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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