Scotiabank Issues Pessimistic Forecast for Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Price

Adaptimmune Therapeutics (NASDAQ:ADAP - Free Report) had its target price cut by Scotiabank from $3.15 to $1.40 in a research note published on Friday,Benzinga reports. They currently have a sector outperform rating on the biotechnology company's stock.

Several other research firms also recently weighed in on ADAP. Mizuho dropped their target price on shares of Adaptimmune Therapeutics from $3.00 to $1.50 and set an "outperform" rating on the stock in a research report on Wednesday, November 27th. StockNews.com initiated coverage on shares of Adaptimmune Therapeutics in a report on Friday. They set a "buy" rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Adaptimmune Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $2.18.

Adaptimmune Therapeutics Stock Down 9.7 %

Shares of ADAP traded down $0.03 during midday trading on Friday, hitting $0.25. 3,080,514 shares of the company's stock traded hands, compared to its average volume of 1,689,527. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $63.97 million, a price-to-earnings ratio of -1.14 and a beta of 2.52. Adaptimmune Therapeutics has a 1 year low of $0.26 and a 1 year high of $1.65. The firm's fifty day moving average is $0.53 and its 200-day moving average is $0.68.

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Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) last released its quarterly earnings results on Monday, March 24th. The biotechnology company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.09). Adaptimmune Therapeutics had a negative net margin of 25.43% and a negative return on equity of 74.15%. The business had revenue of $3.22 million during the quarter, compared to analysts' expectations of $16.56 million. As a group, sell-side analysts anticipate that Adaptimmune Therapeutics will post -0.14 earnings per share for the current year.

Institutional Trading of Adaptimmune Therapeutics

Several large investors have recently made changes to their positions in ADAP. Invesco Ltd. lifted its position in Adaptimmune Therapeutics by 82.0% during 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. Two Sigma Advisers LP lifted its holdings in shares of Adaptimmune Therapeutics by 492.0% in the 4th quarter. Two Sigma Advisers LP now owns 70,735 shares of the biotechnology company's stock valued at $38,000 after buying an additional 58,787 shares during the period. Two Sigma Investments LP boosted its stake in shares of 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 buying an additional 19,146 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Adaptimmune Therapeutics in the third quarter worth about $95,000. Finally, Virtu Financial LLC grew its holdings in Adaptimmune Therapeutics by 27.5% during the third quarter. Virtu Financial LLC now owns 101,008 shares of the biotechnology company's stock worth $96,000 after acquiring an additional 21,769 shares during the period. 31.37% of the stock is owned by hedge funds and other institutional investors.

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.