Adaptimmune Therapeutics (NASDAQ:ADAP) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Adaptimmune Therapeutics plc (NASDAQ:ADAP) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $0.66 and traded as low as $0.59. Adaptimmune Therapeutics shares last traded at $0.62, with a volume of 1,456,842 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ADAP shares. StockNews.com downgraded shares of Adaptimmune Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. Guggenheim decreased their price objective on Adaptimmune Therapeutics from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Mizuho reduced their target price on Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Finally, HC Wainwright reduced their price objective on shares of Adaptimmune Therapeutics from $4.00 to $3.50 and set a “buy” rating on the stock 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 company presently has an average rating of “Buy” and an average price target of $2.79.

Adaptimmune Therapeutics Stock Performance

The firm has a market capitalization of $158.62 million, a price-to-earnings ratio of -2.82 and a beta of 2.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.85 and a quick ratio of 3.82. The firm has a 50 day moving average price of $0.66 and a 200-day moving average price of $0.92.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ADAP. Fullcircle Wealth LLC purchased a new position in shares of Adaptimmune Therapeutics in the 3rd quarter valued at about $33,000. Vontobel Holding Ltd. lifted its position in Adaptimmune Therapeutics by 230.8% in the third quarter. Vontobel Holding Ltd. now owns 43,000 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 30,000 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Adaptimmune Therapeutics in the third quarter valued at $95,000. Virtu Financial LLC increased its position in shares of Adaptimmune Therapeutics by 27.5% during the third quarter. Virtu Financial LLC now owns 101,008 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 21,769 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Adaptimmune Therapeutics by 130.4% in the 3rd quarter. Jane Street Group LLC now owns 174,157 shares of the biotechnology company’s stock valued at $166,000 after purchasing an additional 98,581 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.