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

StockNews.com began coverage on shares of Adaptimmune Therapeutics (NASDAQ:ADAP - Free Report) in a research report sent to investors on Thursday morning. The firm issued a buy rating on the biotechnology company's stock.

ADAP has been the topic of a number of other research reports. HC Wainwright lowered their target price on Adaptimmune Therapeutics from $4.00 to $3.50 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Mizuho decreased their price target on Adaptimmune Therapeutics from $3.00 to $1.50 and set an "outperform" rating for the company in a research note on Wednesday, November 27th. Finally, Guggenheim decreased their price target on Adaptimmune Therapeutics from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Adaptimmune Therapeutics has a consensus rating of "Buy" and an average target price of $2.79.

Adaptimmune Therapeutics Stock Up 0.5 %

NASDAQ ADAP traded up $0.00 on Thursday, reaching $0.45. The stock had a trading volume of 784,140 shares, compared to its average volume of 1,112,558. The business has a 50 day moving average price of $0.57 and a 200 day moving average price of $0.73. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.62. Adaptimmune Therapeutics has a 1 year low of $0.44 and a 1 year high of $1.65. The company has a market capitalization of $115.22 million, a price-to-earnings ratio of -2.05 and a beta of 2.52.

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Hedge Funds Weigh In On Adaptimmune Therapeutics

Several large investors have recently made changes to their positions in ADAP. Two Seas Capital LP acquired a new position in shares of Adaptimmune Therapeutics during the 4th quarter worth about $7,992,000. Long Focus Capital Management LLC lifted its position in shares of Adaptimmune Therapeutics by 54.1% during 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 purchasing an additional 7,194,503 shares during the last quarter. Renaissance Technologies LLC lifted its position 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 worth $1,361,000 after purchasing an additional 869,949 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Adaptimmune Therapeutics by 87.7% during the 4th quarter. Jane Street Group LLC now owns 326,937 shares of the biotechnology company's stock worth $176,000 after purchasing an additional 152,780 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Adaptimmune Therapeutics during the 3rd quarter worth about $95,000. Institutional investors and hedge funds 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.