Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target Cut to $3.00 by Analysts at HC Wainwright

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective dropped by HC Wainwright from $3.50 to $3.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock.

A number of other brokerages have also weighed in on ADAP. Scotiabank cut their price objective on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a report on Friday, March 21st. Guggenheim lowered their price target on Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. StockNews.com started coverage on shares of Adaptimmune Therapeutics in a research report on Saturday, March 29th. They set a “buy” rating on the stock. Finally, Wells Fargo & Company dropped their target price on Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating for the company in a report on Friday, March 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1.83.

Adaptimmune Therapeutics Stock Performance

Adaptimmune Therapeutics stock opened at $0.31 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.82 and a current ratio of 3.85. The company has a market capitalization of $78.46 million, a PE ratio of -1.39 and a beta of 2.85. The company has a 50 day moving average price of $0.49 and a 200-day moving average price of $0.65. Adaptimmune Therapeutics has a fifty-two week low of $0.20 and a fifty-two week high of $1.48.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Two Seas Capital LP acquired a new stake in Adaptimmune Therapeutics in the fourth quarter valued at about $7,992,000. Two Sigma Investments LP raised its stake in shares of Adaptimmune Therapeutics by 33.5% during the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock worth $41,000 after buying an additional 19,146 shares during the last quarter. Two Sigma Advisers LP raised its position in Adaptimmune Therapeutics by 492.0% during the fourth quarter. Two Sigma Advisers LP now owns 70,735 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 58,787 shares during the last quarter. Jane Street Group LLC lifted its stake in Adaptimmune Therapeutics by 87.7% in the 4th quarter. Jane Street Group LLC now owns 326,937 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 152,780 shares in the last quarter. Finally, Long Focus Capital Management LLC increased its position in Adaptimmune Therapeutics by 54.1% during the 4th quarter. Long Focus Capital Management LLC now owns 20,494,393 shares of the biotechnology company’s stock worth $11,040,000 after purchasing an additional 7,194,503 shares in the last quarter. 31.37% of the stock is currently owned by hedge funds and other institutional investors.

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.