Barclays Has Lowered Expectations for Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Price

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target lowered by equities researchers at Barclays from $1.00 to $0.46 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the biotechnology company’s stock. Barclays‘s target price would indicate a potential upside of 73.78% from the stock’s previous close.

ADAP has been the topic of several other reports. Jones Trading cut 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. HC Wainwright reduced their target price on Adaptimmune Therapeutics from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Scotiabank reduced their target price 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. Finally, Guggenheim reduced their target price on Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating on the stock in a report on Wednesday, March 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1.52.

Adaptimmune Therapeutics Trading Down 2.7%

Shares of ADAP stock opened at $0.26 on Wednesday. Adaptimmune Therapeutics has a 52-week low of $0.20 and a 52-week high of $1.48. 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 firm has a market capitalization of $68.09 million, a PE ratio of -1.20 and a beta of 2.86. The stock has a fifty day simple moving average of $0.29 and a two-hundred day simple moving average of $0.51.

Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.18). Adaptimmune Therapeutics had a negative return on equity of 74.15% and a negative net margin of 25.43%. The business had revenue of $7.29 million during the quarter, compared to analyst estimates of $6.55 million. On average, analysts predict that Adaptimmune Therapeutics will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in Adaptimmune Therapeutics by 82.0% in the fourth quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 28,526 shares in the last quarter. Two Sigma Advisers LP grew its position in Adaptimmune Therapeutics by 492.0% in the fourth quarter. Two Sigma Advisers LP now owns 70,735 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 58,787 shares in the last quarter. Two Sigma Investments LP grew its position in 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 acquiring an additional 19,146 shares in the last quarter. Virtu Financial LLC grew its position in 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, LPL Financial LLC grew its position in Adaptimmune Therapeutics by 106.5% in the fourth quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company’s stock worth $99,000 after acquiring an additional 94,623 shares in the last quarter. Hedge funds and other institutional investors 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.