Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Crosses Below 50 Day Moving Average - Here's Why

Shares of Adaptimmune Therapeutics plc (NASDAQ:ADAP - Get Free Report) crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $0.62 and traded as low as $0.57. Adaptimmune Therapeutics shares last traded at $0.58, with a volume of 434,782 shares trading hands.

Analysts Set New Price Targets

Several research analysts recently commented on ADAP shares. Mizuho decreased 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 note on Wednesday, November 27th. HC Wainwright lowered their price target on Adaptimmune Therapeutics from $4.00 to $3.50 and set a "buy" rating for the company in a research report on Thursday, November 14th. Guggenheim cut their price objective on Adaptimmune Therapeutics from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Friday, November 15th. Finally, StockNews.com downgraded Adaptimmune Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $2.79.

Adaptimmune Therapeutics Trading Down 3.1 %

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 company has a market cap of $150.97 million, a PE ratio of -2.68 and a beta of 2.24. The stock has a 50 day moving average price of $0.62 and a 200 day moving average price of $0.87.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in shares of Adaptimmune Therapeutics by 28.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,786,341 shares of the biotechnology company's stock worth $1,742,000 after purchasing an additional 394,566 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Adaptimmune Therapeutics by 230.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 43,000 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 30,000 shares during the last quarter. Fullcircle Wealth LLC bought a new position in Adaptimmune Therapeutics in the 3rd quarter worth about $33,000. GSA Capital Partners LLP purchased a new stake in Adaptimmune Therapeutics during the 3rd quarter valued at about $95,000. Finally, Baillie Gifford & Co. increased its stake in Adaptimmune Therapeutics by 10.7% during the 3rd quarter. Baillie Gifford & Co. now owns 16,775,860 shares of the biotechnology company's stock valued at $15,944,000 after purchasing an additional 1,626,657 shares in the last quarter. 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.