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

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective reduced by equities research analysts at HC Wainwright from $3.50 to $3.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock.

Several other research firms have also recently weighed in on ADAP. StockNews.com began coverage on Adaptimmune Therapeutics in a research note on Saturday. They set a “buy” rating for the company. Scotiabank reduced their price objective on shares of 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. Guggenheim lowered their target price on shares of Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating for the company in a report on Wednesday, March 26th. Finally, Wells Fargo & Company cut their price target on shares of Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1.83.

Adaptimmune Therapeutics Stock Performance

Shares of ADAP opened at $0.20 on Tuesday. Adaptimmune Therapeutics has a 1 year low of $0.20 and a 1 year high of $1.55. The stock has a market capitalization of $50.41 million, a PE ratio of -0.90 and a beta of 2.52. 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 stock has a 50-day simple moving average of $0.50 and a 200-day simple moving average of $0.66.

Adaptimmune Therapeutics (NASDAQ:ADAP) last posted its quarterly earnings results on Monday, March 24th. The biotechnology company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). The business had revenue of $3.22 million during the quarter, compared to analyst estimates of $16.56 million. Adaptimmune Therapeutics had a negative net margin of 25.43% and a negative return on equity of 74.15%. On average, analysts predict that Adaptimmune Therapeutics will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Adaptimmune Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP increased its position in Adaptimmune Therapeutics by 33.5% in the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 19,146 shares during the period. Virtu Financial LLC lifted 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 valued at $66,000 after purchasing an additional 21,688 shares during the period. Invesco Ltd. lifted 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 valued at $34,000 after purchasing an additional 28,526 shares during the period. FMR LLC boosted its holdings in Adaptimmune Therapeutics by 3.0% in the 3rd quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock valued at $1,655,000 after purchasing an additional 50,419 shares in the last quarter. Finally, Rock Springs Capital Management LP increased its position in Adaptimmune Therapeutics by 2.4% during the 4th quarter. Rock Springs Capital Management LP now owns 2,483,468 shares of the biotechnology company’s stock worth $1,338,000 after purchasing an additional 58,000 shares during the period. 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.