Wells Fargo & Company Has Lowered Expectations for Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Price

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) had its target price dropped by equities research analysts at Wells Fargo & Company from $2.00 to $1.50 in a report released on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the biotechnology company's stock. Wells Fargo & Company's price target would suggest a potential upside of 485.94% from the stock's current price.

Other equities analysts also recently issued reports about the stock. Scotiabank decreased their price target on shares of Adaptimmune Therapeutics from $3.15 to $1.40 and set a "sector outperform" rating on the stock in a research note on Friday. StockNews.com started coverage on Adaptimmune Therapeutics in a research note on Friday. They issued a "buy" rating for the company. Finally, Mizuho cut their target price on Adaptimmune Therapeutics from $3.00 to $1.50 and set an "outperform" rating for the company in a research report on Wednesday, November 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Adaptimmune Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $2.18.

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Adaptimmune Therapeutics Stock Down 7.5 %

Shares of ADAP stock traded down $0.02 during trading on Friday, reaching $0.26. The company's stock had a trading volume of 2,503,809 shares, compared to its average volume of 1,687,471. The company has a market cap of $65.51 million, a price-to-earnings ratio of -1.16 and a beta of 2.52. Adaptimmune Therapeutics has a one year low of $0.26 and a one year high of $1.65. The business has a fifty day moving average price of $0.53 and a 200-day moving average price of $0.69. The company has a quick ratio of 3.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.62.

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) last announced 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). The company had revenue of $3.22 million during the quarter, compared to the consensus estimate of $16.56 million. Adaptimmune Therapeutics had a negative net margin of 25.43% and a negative return on equity of 74.15%. 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 bought and sold shares of the business. Two Seas Capital LP acquired a new position in Adaptimmune Therapeutics during the 4th quarter worth approximately $7,992,000. Long Focus Capital Management LLC boosted its holdings in shares of Adaptimmune Therapeutics by 54.1% during the 4th quarter. Long Focus Capital Management LLC now owns 20,494,393 shares of the biotechnology company's stock valued at $11,040,000 after acquiring an additional 7,194,503 shares in the last quarter. Renaissance Technologies LLC grew its position in Adaptimmune Therapeutics by 52.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,526,524 shares of the biotechnology company's stock worth $1,361,000 after acquiring an additional 869,949 shares during the last quarter. Jane Street Group LLC grew its holdings in Adaptimmune Therapeutics by 87.7% during the 4th quarter. Jane Street Group LLC now owns 326,937 shares of the biotechnology company's stock worth $176,000 after acquiring an additional 152,780 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Adaptimmune Therapeutics in the 3rd quarter valued at approximately $95,000. 31.37% of the stock is owned by institutional investors and hedge funds.

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.