Zacks: Analysts Expect Adaptimmune Therapeutics plc (NASDAQ:ADAP) Will Post Quarterly Sales of $4.00 Million

Analysts expect Adaptimmune Therapeutics plc (NASDAQ:ADAP – Get Rating) to post $4.00 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Adaptimmune Therapeutics’ earnings. The highest sales estimate is $7.50 million and the lowest is $500,000.00. Adaptimmune Therapeutics posted sales of $430,000.00 during the same quarter last year, which suggests a positive year-over-year growth rate of 830.2%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Adaptimmune Therapeutics will report full-year sales of $18.25 million for the current financial year, with estimates ranging from $6.50 million to $30.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $19.05 million, with estimates ranging from $2.10 million to $36.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Adaptimmune Therapeutics.

Adaptimmune Therapeutics (NASDAQ:ADAP – Get Rating) last released its earnings results on Monday, March 14th. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.18). Adaptimmune Therapeutics had a negative net margin of 2,571.00% and a negative return on equity of 61.15%. During the same period last year, the business posted ($0.24) earnings per share.

ADAP has been the topic of several analyst reports. StockNews.com started coverage on shares of Adaptimmune Therapeutics in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research downgraded shares of Adaptimmune Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, March 15th. Finally, SVB Leerink dropped their target price on Adaptimmune Therapeutics from $7.00 to $3.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.92.

In other news, CEO Adrian Rawcliffe sold 14,362 shares of the business’s stock in a transaction that occurred on Tuesday, January 11th. The stock was sold at an average price of $3.56, for a total transaction of $51,128.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 36,793 shares of company stock worth $124,455. 18.89% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Adaptimmune Therapeutics by 28.5% in the 3rd quarter. BlackRock Inc. now owns 1,260,872 shares of the biotechnology company’s stock worth $6,519,000 after buying an additional 279,478 shares in the last quarter. Rock Springs Capital Management LP lifted its holdings in shares of Adaptimmune Therapeutics by 41.7% in the third quarter. Rock Springs Capital Management LP now owns 2,189,788 shares of the biotechnology company’s stock valued at $11,321,000 after purchasing an additional 644,788 shares in the last quarter. Toroso Investments LLC acquired a new stake in shares of Adaptimmune Therapeutics in the third quarter valued at approximately $55,000. Baillie Gifford & Co. increased its stake in shares of Adaptimmune Therapeutics by 9.6% during the 3rd quarter. Baillie Gifford & Co. now owns 12,824,980 shares of the biotechnology company’s stock worth $66,306,000 after purchasing an additional 1,128,061 shares in the last quarter. Finally, Balyasny Asset Management LLC acquired a new position in shares of Adaptimmune Therapeutics during the 3rd quarter worth approximately $1,341,000.

ADAP traded down $0.06 during trading on Friday, hitting $2.18. The stock had a trading volume of 558,066 shares, compared to its average volume of 768,175. The firm has a market capitalization of $341.67 million, a P/E ratio of -2.18 and a beta of 2.07. Adaptimmune Therapeutics has a twelve month low of $1.69 and a twelve month high of $6.86. The company’s 50-day moving average price is $2.42 and its 200 day moving average price is $3.63.

Adaptimmune Therapeutics Company Profile (Get Rating)

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, focuses on providing novel cell therapies primarily to patients with solid tumors in the United States and the United Kingdom. The company's specific peptide enhanced affinity receptor (SPEAR) T-cell platform enables it to identify cancer targets.

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