Wells Fargo & Company Lowers Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target to $1.50

Adaptimmune Therapeutics (NASDAQ:ADAP) had its target price decreased by investment analysts at Wells Fargo & Company from $2.00 to $1.50 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 415.82% from the stock’s previous close.

A number of other research firms also recently commented on ADAP. Scotiabank dropped their price objective on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a research note on Friday. Mizuho dropped their price objective on Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Finally, StockNews.com initiated coverage on Adaptimmune Therapeutics in a research note on Friday. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2.18.

Adaptimmune Therapeutics Stock Up 3.9 %

ADAP opened at $0.29 on Friday. Adaptimmune Therapeutics has a one year low of $0.26 and a one year high of $1.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.82 and a current ratio of 3.85. The stock’s fifty day moving average is $0.54 and its 200-day moving average is $0.70. The company has a market capitalization of $74.41 million, a PE ratio of -1.32 and a beta of 2.52.

Institutional Investors Weigh In On Adaptimmune Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Two Seas Capital LP acquired a new stake in shares of Adaptimmune Therapeutics during the fourth quarter worth $7,992,000. Two Sigma Investments LP raised its position in shares of Adaptimmune Therapeutics by 33.5% during the fourth quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 19,146 shares during the period. Two Sigma Advisers LP raised its position in shares of 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 purchasing an additional 58,787 shares during the period. Jane Street Group LLC raised its position in shares of Adaptimmune Therapeutics by 87.7% during the fourth quarter. Jane Street Group LLC now owns 326,937 shares of the biotechnology company’s stock worth $176,000 after purchasing an additional 152,780 shares during the period. Finally, Long Focus Capital Management LLC grew its holdings in shares of Adaptimmune Therapeutics by 54.1% during the fourth quarter. Long Focus Capital Management LLC now owns 20,494,393 shares of the biotechnology company’s stock valued at $11,040,000 after buying an additional 7,194,503 shares in the last quarter. 31.37% of the stock is owned by institutional investors and hedge funds.

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.