Adaptimmune Therapeutics (NASDAQ:ADAP) Given New $1.50 Price Target at Wells Fargo & Company

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target dropped by Wells Fargo & Company from $2.00 to $1.50 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 415.82% from the stock’s previous close.

ADAP has been the topic of a number of other research reports. Scotiabank lowered their target price on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a research note on Friday. Mizuho lowered their target price on Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Finally, StockNews.com started coverage on Adaptimmune Therapeutics in a research note on Friday. They issued a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Adaptimmune Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $2.18.

Adaptimmune Therapeutics Stock Performance

Shares of ADAP stock opened at $0.29 on Friday. The stock’s fifty day simple moving average is $0.54 and its 200-day simple moving average is $0.70. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.62. Adaptimmune Therapeutics has a 1-year low of $0.26 and a 1-year high of $1.65. The company has a market capitalization of $74.41 million, a price-to-earnings ratio of -1.32 and a beta of 2.52.

Institutional Trading of Adaptimmune Therapeutics

Large investors have recently made changes to their positions in the stock. Jane Street Group LLC boosted its stake in shares of Adaptimmune Therapeutics by 130.4% during the 3rd quarter. Jane Street Group LLC now owns 174,157 shares of the biotechnology company’s stock worth $166,000 after acquiring an additional 98,581 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Adaptimmune Therapeutics during the 3rd quarter worth about $95,000. Virtu Financial LLC boosted its stake in shares of 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 acquiring an additional 21,769 shares in the last quarter. FMR LLC lifted its position in shares of Adaptimmune Therapeutics by 3.0% during the 3rd quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock worth $1,655,000 after purchasing an additional 50,419 shares during the last quarter. Finally, Two Seas Capital LP acquired a new position in shares of Adaptimmune Therapeutics during the 4th quarter worth about $7,992,000. Institutional investors own 31.37% of the company’s stock.

Adaptimmune Therapeutics Company Profile

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.