Adaptimmune Therapeutics (NASDAQ:ADAP) Lowered to Neutral Rating by Mizuho

Mizuho downgraded shares of Adaptimmune Therapeutics (NASDAQ:ADAP) from an outperform rating to a neutral rating in a research note published on Thursday, MarketBeat Ratings reports. They currently have $0.50 target price on the biotechnology company’s stock, down from their previous target price of $1.50.

A number of other equities research analysts have also weighed in on the company. Scotiabank dropped their price target on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company lowered their target price on shares of Adaptimmune Therapeutics from $1.50 to $1.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 14th. Jones Trading downgraded shares of Adaptimmune Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 11th. Barclays cut their price target on shares of Adaptimmune Therapeutics from $1.00 to $0.46 and set an “underweight” rating on the stock in a research note on Wednesday, May 14th. Finally, Wall Street Zen initiated coverage on shares of Adaptimmune Therapeutics in a research note on Friday, May 16th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $1.35.

Adaptimmune Therapeutics Price Performance

Shares of ADAP opened at $0.24 on Thursday. The company has a 50 day moving average of $0.27 and a two-hundred day moving average of $0.41. The company has a quick ratio of 1.79, a current ratio of 2.02 and a debt-to-equity ratio of 4.24. Adaptimmune Therapeutics has a twelve month low of $0.20 and a twelve month high of $1.48. The company has a market cap of $64.20 million, a price-to-earnings ratio of -0.90 and a beta of 2.24.

Adaptimmune Therapeutics (NASDAQ:ADAP) last posted its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). Adaptimmune Therapeutics had a negative return on equity of 163.73% and a negative net margin of 38.91%. The firm had revenue of $7.29 million during the quarter, compared to analysts’ expectations of $6.55 million. As a group, analysts predict that Adaptimmune Therapeutics will post -0.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC grew its holdings in 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 acquiring an additional 21,688 shares during the period. LPL Financial LLC boosted its position in Adaptimmune Therapeutics by 106.5% in the 4th 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 in the last quarter. Invesco Ltd. grew its stake in shares of Adaptimmune Therapeutics by 82.0% during the 4th quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 28,526 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Adaptimmune Therapeutics by 52.5% during the 4th 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 in the last quarter. Finally, Rock Springs Capital Management LP lifted its stake in shares of Adaptimmune Therapeutics by 2.4% in the 4th quarter. Rock Springs Capital Management LP now owns 2,483,468 shares of the biotechnology company’s stock valued at $1,338,000 after purchasing an additional 58,000 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.