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

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target decreased by analysts at HC Wainwright from $3.50 to $3.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock.

A number of other brokerages have also recently weighed in on ADAP. Guggenheim dropped their price target on Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating for the company in a research report on Wednesday, March 26th. StockNews.com assumed coverage on shares of Adaptimmune Therapeutics in a research report on Saturday. They set a “buy” rating for the company. Scotiabank dropped their price objective 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. Finally, Wells Fargo & Company cut their price objective on Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating for the company in a research report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Adaptimmune Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $1.83.

Adaptimmune Therapeutics Trading Down 4.4 %

Shares of ADAP opened at $0.20 on Tuesday. The firm’s 50-day moving average is $0.50 and its two-hundred day moving average is $0.66. Adaptimmune Therapeutics has a twelve month low of $0.20 and a twelve month high of $1.55. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $50.41 million, a P/E ratio of -0.90 and a beta of 2.52.

Adaptimmune Therapeutics (NASDAQ:ADAP) last released its quarterly earnings results on Monday, March 24th. The biotechnology company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 74.15% and a negative net margin of 25.43%. On average, research analysts predict that Adaptimmune Therapeutics will post -0.14 earnings per share for the current fiscal year.

Institutional Trading of Adaptimmune Therapeutics

A number of hedge funds have recently bought and sold shares of ADAP. Invesco Ltd. raised its holdings in Adaptimmune Therapeutics by 82.0% in the 4th 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 lifted its position in Adaptimmune Therapeutics by 492.0% during the fourth quarter. Two Sigma Advisers LP now owns 70,735 shares of the biotechnology company’s stock worth $38,000 after buying an additional 58,787 shares during the period. Two Sigma Investments LP boosted its stake in Adaptimmune Therapeutics by 33.5% in the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock worth $41,000 after buying an additional 19,146 shares during the last quarter. Virtu Financial LLC grew its holdings in Adaptimmune Therapeutics by 21.5% in the 4th quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company’s stock valued at $66,000 after buying an additional 21,688 shares during the period. Finally, LPL Financial LLC grew its holdings in Adaptimmune Therapeutics by 106.5% in the 4th quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 94,623 shares during the period. Institutional investors and hedge funds 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.