Research Analysts Issue Forecasts for ADAP FY2024 Earnings

Adaptimmune Therapeutics plc (NASDAQ:ADAP - Free Report) - Investment analysts at HC Wainwright raised their FY2024 EPS estimates for Adaptimmune Therapeutics in a research note issued to investors on Thursday, November 14th. HC Wainwright analyst A. He now forecasts that the biotechnology company will earn ($0.12) per share for the year, up from their prior estimate of ($0.30). HC Wainwright has a "Buy" rating and a $3.50 price target on the stock. The consensus estimate for Adaptimmune Therapeutics' current full-year earnings is ($0.19) per share. HC Wainwright also issued estimates for Adaptimmune Therapeutics' FY2025 earnings at ($0.54) EPS, FY2026 earnings at ($0.42) EPS, FY2027 earnings at ($0.12) EPS and FY2028 earnings at $0.06 EPS.

A number of other research firms have also recently issued reports on ADAP. StockNews.com cut shares of Adaptimmune Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Thursday. Guggenheim decreased their price target on shares of Adaptimmune Therapeutics from $4.00 to $3.00 and set a "buy" rating for the company in a report on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $3.16.

Adaptimmune Therapeutics Stock Down 0.8 %

ADAP stock opened at $0.59 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.85 and a quick ratio of 3.09. Adaptimmune Therapeutics has a 52-week low of $0.42 and a 52-week high of $2.05. The company has a 50-day moving average of $0.88 and a two-hundred day moving average of $1.03. The stock has a market capitalization of $150.02 million, a price-to-earnings ratio of -2.67 and a beta of 2.26.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Several hedge funds have recently made changes to their positions in ADAP. Long Focus Capital Management LLC lifted its stake in shares of Adaptimmune Therapeutics by 15.6% in the second quarter. Long Focus Capital Management LLC now owns 12,346,417 shares of the biotechnology company's stock valued at $12,037,000 after buying an additional 1,662,184 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Adaptimmune Therapeutics by 10.7% in the third quarter. Baillie Gifford & Co. now owns 16,775,860 shares of the biotechnology company's stock valued at $15,944,000 after buying an additional 1,626,657 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Adaptimmune Therapeutics by 28.3% in the second quarter. Renaissance Technologies LLC now owns 1,786,341 shares of the biotechnology company's stock valued at $1,742,000 after buying an additional 394,566 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Adaptimmune Therapeutics in the third quarter valued at about $95,000. Finally, Jane Street Group LLC lifted its stake in shares of Adaptimmune Therapeutics by 130.4% in 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 during the period. Institutional investors own 31.37% of the company's stock.

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.