Scotiabank Issues Pessimistic Forecast for Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Price

Adaptimmune Therapeutics (NASDAQ:ADAP) had its target price dropped by equities researchers at Scotiabank from $3.15 to $1.40 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the biotechnology company’s stock. Scotiabank’s target price would indicate a potential upside of 381.43% from the stock’s current price.

Several other equities analysts also recently weighed in on ADAP. Mizuho cut their price target on shares of Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. StockNews.com began coverage on Adaptimmune Therapeutics in a research report on Friday. They set a “buy” rating on the stock. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2.18.

Adaptimmune Therapeutics Stock Performance

ADAP opened at $0.29 on Friday. Adaptimmune Therapeutics has a 52-week low of $0.26 and a 52-week high of $1.65. 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 $74.41 million, a P/E ratio of -1.32 and a beta of 2.52. The firm’s 50-day moving average price is $0.54 and its 200-day moving average price is $0.70.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ADAP. Invesco Ltd. boosted its stake in shares of 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 buying an additional 28,526 shares during the period. 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 buying an additional 58,787 shares during the period. Two Sigma Investments LP boosted its stake in shares of Adaptimmune Therapeutics by 33.5% in the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 19,146 shares during the period. Virtu Financial LLC boosted its stake in shares of 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, GSA Capital Partners LLP purchased a new position in shares of Adaptimmune Therapeutics in the 3rd quarter valued at about $95,000. Hedge funds and other institutional investors 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.