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

StockNews.com began coverage on shares of Adaptimmune Therapeutics (NASDAQ:ADAP) in a research report sent to investors on Sunday. The brokerage issued a buy rating on the biotechnology company’s stock.

ADAP has been the topic of a number of other reports. Wells Fargo & Company dropped their target price on shares of Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Scotiabank dropped 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 reduced their target price on Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating for the company in a report on Wednesday, March 26th. Finally, HC Wainwright decreased their target price on Adaptimmune Therapeutics from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1.83.

Adaptimmune Therapeutics Trading Down 20.3 %

NASDAQ:ADAP opened at $0.26 on Friday. Adaptimmune Therapeutics has a 1 year low of $0.20 and a 1 year high of $1.48. The stock has a market cap of $66.39 million, a P/E ratio of -1.17 and a beta of 2.85. 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 stock has a 50-day simple moving average of $0.47 and a 200-day simple moving average of $0.63.

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 business had revenue of $3.22 million during the quarter, compared to analyst estimates 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, analysts anticipate that Adaptimmune Therapeutics will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Several hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its position in 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 acquiring an additional 28,526 shares during the period. Two Sigma Advisers LP grew its stake in shares of Adaptimmune Therapeutics by 492.0% in 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 increased 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 valued at $41,000 after purchasing an additional 19,146 shares during the period. Virtu Financial LLC raised its stake in shares of Adaptimmune Therapeutics by 21.5% during the fourth quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company’s stock worth $66,000 after purchasing an additional 21,688 shares during the last quarter. Finally, LPL Financial LLC raised its stake in shares of Adaptimmune Therapeutics by 106.5% during the fourth quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company’s stock worth $99,000 after purchasing an additional 94,623 shares during the last quarter. Institutional investors and hedge funds 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.