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

StockNews.com began coverage on shares of Adaptimmune Therapeutics (NASDAQ:ADAP) in a report issued on Wednesday. The brokerage set a “buy” rating on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the stock. HC Wainwright dropped their price target on shares of Adaptimmune Therapeutics from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Jones Trading downgraded Adaptimmune Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, April 11th. Wells Fargo & Company reduced their target price on Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Scotiabank lowered their price target on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating for the company in a research report on Friday, March 21st. Finally, Guggenheim cut their price objective on Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating on the stock in a report on Wednesday, March 26th. Two analysts have 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $1.83.

Adaptimmune Therapeutics Stock Performance

ADAP opened at $0.28 on Wednesday. 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 $70.76 million, a P/E ratio of -1.25 and a beta of 2.84. The stock’s 50 day simple moving average is $0.33 and its 200 day simple moving average is $0.54. 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 (NASDAQ:ADAP) last released its quarterly earnings data on Monday, March 24th. The biotechnology company reported ($0.26) EPS for the quarter, missing the consensus estimate 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 business had revenue of $3.22 million during the quarter, compared to analysts’ expectations of $16.56 million. As a group, equities analysts anticipate that Adaptimmune Therapeutics will post -0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in shares of Adaptimmune Therapeutics by 52.5% during 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. Jane Street Group LLC grew its holdings in Adaptimmune Therapeutics by 130.4% during the 3rd quarter. Jane Street Group LLC now owns 174,157 shares of the biotechnology company’s stock valued at $166,000 after purchasing an additional 98,581 shares in the last quarter. Two Seas Capital LP purchased a new stake in Adaptimmune Therapeutics during the 4th quarter worth $7,992,000. Long Focus Capital Management LLC lifted its holdings in Adaptimmune Therapeutics by 54.1% in the 4th quarter. Long Focus Capital Management LLC now owns 20,494,393 shares of the biotechnology company’s stock worth $11,040,000 after buying an additional 7,194,503 shares in the last quarter. Finally, Virtu Financial LLC boosted its position in Adaptimmune Therapeutics by 27.5% in the 3rd quarter. Virtu Financial LLC now owns 101,008 shares of the biotechnology company’s stock valued at $96,000 after buying an additional 21,769 shares during the last quarter. 31.37% of the stock is 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.