Adaptimmune Therapeutics (NASDAQ:ADAP) Given New $3.00 Price Target at HC Wainwright

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target trimmed by HC Wainwright from $3.50 to $3.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Several other research firms have also commented on ADAP. Scotiabank reduced their price target on shares of Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating for the company in a report on Friday, March 21st. StockNews.com began coverage on shares of Adaptimmune Therapeutics in a research note on Saturday. They issued a “buy” rating for the company. Guggenheim lowered their target price on Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating for the company in a report on Wednesday, March 26th. Finally, Wells Fargo & Company cut their price target on Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating on the stock in a report on Friday, March 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Adaptimmune Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $1.83.

Adaptimmune Therapeutics Stock Up 26.9 %

Shares of ADAP opened at $0.25 on Tuesday. The firm has a market capitalization of $63.97 million, a P/E ratio of -1.14 and a beta of 2.52. Adaptimmune Therapeutics has a 12-month low of $0.20 and a 12-month high of $1.48. The firm has a fifty day moving average price of $0.49 and a 200-day moving average price of $0.65. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.62.

Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its earnings results on Monday, March 24th. The biotechnology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.09). Adaptimmune Therapeutics had a negative return on equity of 74.15% and a negative net margin of 25.43%. The company had revenue of $3.22 million during the quarter, compared to the consensus estimate of $16.56 million. Equities research analysts expect that Adaptimmune Therapeutics will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Seas Capital LP acquired a new stake in Adaptimmune Therapeutics in the fourth quarter worth about $7,992,000. Long Focus Capital Management LLC boosted its stake in Adaptimmune Therapeutics by 54.1% in the 4th quarter. Long Focus Capital Management LLC now owns 20,494,393 shares of the biotechnology company’s stock worth $11,040,000 after purchasing an additional 7,194,503 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Adaptimmune Therapeutics by 52.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,526,524 shares of the biotechnology company’s stock worth $1,361,000 after purchasing an additional 869,949 shares in the last quarter. Jane Street Group LLC grew its position in Adaptimmune Therapeutics by 87.7% during the 4th 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 last quarter. Finally, LPL Financial LLC increased its stake in Adaptimmune Therapeutics by 106.5% during the 4th quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company’s stock valued at $99,000 after purchasing an additional 94,623 shares in the last quarter. 31.37% of the stock is currently owned by hedge funds and other institutional investors.

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.