Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target Lowered to $1.75 at Guggenheim

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target decreased by Guggenheim from $3.00 to $1.75 in a report issued on Wednesday,Benzinga reports. Guggenheim currently has a buy rating on the biotechnology company’s stock.

Several other analysts also recently weighed in on ADAP. Scotiabank decreased their price objective on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating for the company in a report on Friday, March 21st. Mizuho cut their target price on shares of Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Wells Fargo & Company lowered their price target on shares of Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Finally, StockNews.com started coverage on shares of Adaptimmune Therapeutics in a report on Friday, March 21st. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Adaptimmune Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $1.93.

Adaptimmune Therapeutics Price Performance

Adaptimmune Therapeutics stock opened at $0.23 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.85 and a quick ratio of 3.82. The stock has a market cap of $58.88 million, a price-to-earnings ratio of -1.05 and a beta of 2.52. The firm has a 50-day moving average of $0.52 and a two-hundred day moving average of $0.68. Adaptimmune Therapeutics has a 1 year low of $0.22 and a 1 year high of $1.65.

Adaptimmune Therapeutics (NASDAQ:ADAP) last announced its quarterly earnings results on Monday, March 24th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The firm had revenue of $3.22 million during the quarter, compared to analysts’ expectations of $16.56 million. Adaptimmune Therapeutics had a negative net margin of 25.43% and a negative return on equity of 74.15%. On average, research analysts forecast that Adaptimmune Therapeutics will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. boosted its stake in Adaptimmune Therapeutics by 82.0% in the fourth quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 28,526 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Adaptimmune Therapeutics by 492.0% during the 4th quarter. Two Sigma Advisers LP now owns 70,735 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 58,787 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Adaptimmune Therapeutics by 33.5% in the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 19,146 shares in the last quarter. Virtu Financial LLC grew its stake in Adaptimmune Therapeutics by 27.5% during the 3rd quarter. Virtu Financial LLC now owns 101,008 shares of the biotechnology company’s stock worth $96,000 after buying an additional 21,769 shares during the last quarter. Finally, Jane Street Group LLC increased its position in Adaptimmune Therapeutics by 130.4% during the 3rd quarter. Jane Street Group LLC now owns 174,157 shares of the biotechnology company’s stock valued at $166,000 after buying an additional 98,581 shares in the last quarter. Hedge funds and other institutional investors own 31.37% of the company’s stock.

About Adaptimmune Therapeutics

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, provides novel cell therapies primarily to cancer patients in the United States and the United Kingdom. It develops SPEARHEAD-1 that is in phase II clinical trials with ADP-A2M4 for synovial sarcoma; SURPASS-3 that is in phase II clinical trial with ADP-A2M4CD8 for people with platinum resistant ovarian cancer; and SURPASS that is in phase I clinical trials in patients with head and neck, and urothelial cancers.