Guggenheim Has Lowered Expectations for Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Price

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective cut by Guggenheim from $3.00 to $1.75 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other research analysts have also issued reports about the company. Scotiabank reduced their target price on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company cut their price objective on shares of Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Mizuho lowered their target price on shares of Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Finally, StockNews.com initiated coverage on shares of Adaptimmune Therapeutics in a research report on Friday, March 21st. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1.93.

Adaptimmune Therapeutics Stock Down 6.4 %

Shares of Adaptimmune Therapeutics stock opened at $0.21 on Wednesday. The company has a quick ratio of 3.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.62. The company has a market cap of $52.71 million, a P/E ratio of -0.94 and a beta of 2.52. The firm’s 50 day moving average price is $0.51 and its 200-day moving average price is $0.67. Adaptimmune Therapeutics has a 52-week low of $0.20 and a 52-week high of $1.55.

Adaptimmune Therapeutics (NASDAQ:ADAP) last announced its earnings results 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 firm had revenue of $3.22 million during the quarter, compared to analyst estimates of $16.56 million. Adaptimmune Therapeutics had a negative net margin of 25.43% and a negative return on equity of 74.15%. On average, sell-side analysts predict that Adaptimmune Therapeutics will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Adaptimmune Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its holdings in Adaptimmune Therapeutics by 3.0% in the 3rd quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock worth $1,655,000 after buying an additional 50,419 shares during the period. Jane Street Group LLC boosted 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 acquiring an additional 98,581 shares during the last quarter. Virtu Financial LLC increased its stake 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 acquiring an additional 21,769 shares during the period. LPL Financial LLC raised its holdings in shares of Adaptimmune Therapeutics by 106.5% during 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. Finally, Invesco Ltd. raised its holdings in shares of Adaptimmune Therapeutics by 82.0% during the fourth quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 28,526 shares during the last quarter. Institutional investors and hedge funds 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.