Scotiabank Cuts Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target to $1.40

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target trimmed by Scotiabank from $3.15 to $1.40 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the biotechnology company’s stock.

Other analysts also recently issued research reports about the company. StockNews.com initiated coverage on Adaptimmune Therapeutics in a research note on Friday. They issued a “buy” rating on the stock. Mizuho dropped their price target 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. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2.18.

Adaptimmune Therapeutics Price Performance

Shares of NASDAQ:ADAP opened at $0.29 on Friday. The stock has a market cap of $74.41 million, a price-to-earnings ratio of -1.32 and a beta of 2.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.85 and a quick ratio of 3.82. Adaptimmune Therapeutics has a 12 month low of $0.26 and a 12 month high of $1.65. The stock’s 50 day moving average price is $0.54 and its 200 day moving average price is $0.69.

Hedge Funds Weigh In On Adaptimmune Therapeutics

A number of hedge funds have recently modified their holdings of ADAP. Invesco Ltd. boosted its position in shares of Adaptimmune Therapeutics by 82.0% in the 4th quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 28,526 shares during the period. Two Sigma Advisers LP lifted its stake 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 valued at $38,000 after buying an additional 58,787 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Adaptimmune Therapeutics by 33.5% in the fourth 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 period. Virtu Financial LLC increased its position in shares of Adaptimmune Therapeutics by 21.5% in the fourth quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 21,688 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Adaptimmune Therapeutics during the third quarter valued at approximately $95,000. 31.37% of the stock is currently owned by institutional investors and hedge funds.

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.