HC Wainwright Lowers Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target to $3.00

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) had its price target dropped by equities researchers at HC Wainwright from $3.50 to $3.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the biotechnology company's stock.

Several other research firms also recently weighed in on ADAP. Scotiabank decreased their price target on shares of Adaptimmune Therapeutics from $3.15 to $1.40 and set a "sector outperform" rating for the company in a research note on Friday, March 21st. Guggenheim decreased their price objective on Adaptimmune Therapeutics from $3.00 to $1.75 and set a "buy" rating for the company in a report on Wednesday, March 26th. StockNews.com initiated coverage on shares of Adaptimmune Therapeutics in a research report on Saturday, March 29th. They set a "buy" rating for the company. Finally, Wells Fargo & Company dropped their price target on shares of Adaptimmune Therapeutics from $2.00 to $1.50 and set an "equal weight" rating on the stock in a research report on Friday, March 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Adaptimmune Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $1.83.

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Adaptimmune Therapeutics Trading Up 6.2 %

ADAP traded up $0.02 during trading on Tuesday, reaching $0.32. 3,907,472 shares of the company's stock were exchanged, compared to its average volume of 1,774,105. 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 one year low of $0.20 and a one year high of $1.48. The firm has a fifty day moving average price of $0.49 and a two-hundred day moving average price of $0.65. The stock has a market capitalization of $83.32 million, a PE ratio of -1.47 and a beta of 2.85.

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

Institutional Trading of Adaptimmune Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ADAP. Invesco Ltd. grew 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 acquiring an additional 28,526 shares during the last quarter. Two Sigma Advisers LP boosted its stake 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 purchasing an additional 58,787 shares in the last quarter. Two Sigma Investments LP grew its holdings in shares of Adaptimmune Therapeutics by 33.5% during the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company's stock valued at $41,000 after purchasing an additional 19,146 shares during the last quarter. Virtu Financial LLC raised its position in Adaptimmune Therapeutics by 21.5% in the 4th quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company's stock worth $66,000 after purchasing an additional 21,688 shares during the period. Finally, LPL Financial LLC lifted its stake in Adaptimmune Therapeutics by 106.5% in the fourth quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company's stock worth $99,000 after purchasing an additional 94,623 shares during the last quarter. Hedge funds and other 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.