StockNews.com Initiates Coverage on Adaptimmune Therapeutics (NASDAQ:ADAP)

Stock analysts at StockNews.com initiated coverage on shares of Adaptimmune Therapeutics (NASDAQ:ADAP) in a report issued on Saturday. The firm set a “buy” rating on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the stock. Guggenheim reduced their price objective on shares of Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating for the company in a research report on Wednesday. Wells Fargo & Company cut their target price on shares of Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Finally, Scotiabank decreased their price target on shares of Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1.93.

Adaptimmune Therapeutics Stock Performance

ADAP opened at $0.21 on Friday. The business has a 50 day moving average price of $0.51 and a two-hundred day moving average price of $0.67. 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 company has a market capitalization of $52.71 million, a price-to-earnings ratio of -0.94 and a beta of 2.52. Adaptimmune Therapeutics has a 1-year low of $0.20 and a 1-year high of $1.55.

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

Institutional Trading of Adaptimmune Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Long Focus Capital Management LLC increased its holdings in shares of 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 valued at $11,040,000 after acquiring an additional 7,194,503 shares during the last quarter. Two Seas Capital LP acquired a new position in Adaptimmune Therapeutics during the fourth quarter valued at approximately $7,992,000. Renaissance Technologies LLC raised its position in shares of Adaptimmune Therapeutics by 52.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,526,524 shares of the biotechnology company’s stock valued at $1,361,000 after purchasing an additional 869,949 shares during the period. Rock Springs Capital Management LP lifted its stake in shares of Adaptimmune Therapeutics by 2.4% in the fourth quarter. Rock Springs Capital Management LP now owns 2,483,468 shares of the biotechnology company’s stock worth $1,338,000 after buying an additional 58,000 shares during the last quarter. Finally, FMR LLC boosted its holdings 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 buying an additional 50,419 shares during the period. Institutional investors and hedge funds 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.