Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Adaptimmune Therapeutics (NASDAQ:ADAP) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

Several other analysts also recently commented on the company. Scotiabank initiated coverage on Adaptimmune Therapeutics in a research note on Thursday, May 30th. They set a sector outperform rating and a $3.15 price objective for the company. Mizuho decreased their price target on Adaptimmune Therapeutics from $9.00 to $3.00 and set a buy rating for the company in a report on Friday, May 17th. Finally, HC Wainwright reiterated a buy rating and set a $4.00 price target on shares of Adaptimmune Therapeutics in a research note on Tuesday.

Adaptimmune Therapeutics Stock Down 0.9 %

ADAP opened at $1.08 on Tuesday. The business’s 50 day moving average is $1.10 and its two-hundred day moving average is $1.20. The firm has a market cap of $266.57 million, a price-to-earnings ratio of -1.46 and a beta of 2.31. Adaptimmune Therapeutics has a 52 week low of $0.42 and a 52 week high of $2.05.

Adaptimmune Therapeutics (NASDAQ:ADAP) last announced its earnings results on Wednesday, May 15th. The biotechnology company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). Adaptimmune Therapeutics had a negative net margin of 890.13% and a negative return on equity of 259.68%. The business had revenue of $5.68 million during the quarter, compared to analysts’ expectations of $4.40 million. Equities analysts expect that Adaptimmune Therapeutics will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Several institutional investors have recently modified their holdings of the company. Columbia Advisory Partners LLC acquired a new position in Adaptimmune Therapeutics during the first quarter worth $25,000. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Adaptimmune Therapeutics in the 1st quarter worth about $41,000. Twin Focus Capital Partners LLC acquired a new stake in Adaptimmune Therapeutics in the 4th quarter valued at about $44,000. Boulder Hill Capital Management LP purchased a new position in Adaptimmune Therapeutics during the 1st quarter valued at about $143,000. Finally, Renaissance Technologies LLC raised its position in Adaptimmune Therapeutics by 28.3% during the second quarter. Renaissance Technologies LLC now owns 1,786,341 shares of the biotechnology company’s stock worth $1,742,000 after acquiring an additional 394,566 shares during the last quarter. Hedge funds and other institutional investors 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.