Short Interest in Adaptimmune Therapeutics plc (NASDAQ:ADAP) Drops By 24.7%

Adaptimmune Therapeutics plc (NASDAQ:ADAP - Get Free Report) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 5,060,000 shares, a decrease of 24.7% from the November 30th total of 6,720,000 shares. Based on an average daily volume of 1,840,000 shares, the short-interest ratio is presently 2.8 days.

Hedge Funds Weigh In On Adaptimmune Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Fullcircle Wealth LLC purchased a new position in shares of Adaptimmune Therapeutics in the third quarter worth approximately $33,000. Vontobel Holding Ltd. raised its stake in Adaptimmune Therapeutics by 230.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 43,000 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 30,000 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Adaptimmune Therapeutics in the third quarter valued at $95,000. Virtu Financial LLC boosted its position in shares of Adaptimmune Therapeutics by 27.5% in the third quarter. Virtu Financial LLC now owns 101,008 shares of the biotechnology company's stock worth $96,000 after buying an additional 21,769 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of Adaptimmune Therapeutics by 130.4% during the third quarter. Jane Street Group LLC now owns 174,157 shares of the biotechnology company's stock valued at $166,000 after buying an additional 98,581 shares in the last quarter. 31.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ADAP. Mizuho decreased their target price 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. HC Wainwright reduced their price objective 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 lowered their price objective 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. Finally, StockNews.com cut Adaptimmune Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Thursday, November 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Adaptimmune Therapeutics currently has an average rating of "Buy" and a consensus target price of $2.79.

Adaptimmune Therapeutics Price Performance

NASDAQ:ADAP traded up $0.02 during trading hours on Friday, reaching $0.59. 4,788,058 shares of the company's stock were exchanged, compared to its average volume of 1,793,067. The company has a market capitalization of $150.97 million, a P/E ratio of -2.68 and a beta of 2.18. Adaptimmune Therapeutics has a 12 month low of $0.55 and a 12 month high of $2.05. The business's 50-day simple moving average is $0.69 and its two-hundred day simple moving average is $0.94. The company has a quick ratio of 3.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.62.

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.