Adaptimmune Therapeutics plc (NASDAQ:ADAP) Sees Large Decline in Short Interest

Adaptimmune Therapeutics plc (NASDAQ:ADAP) saw a significant decrease in short interest in December. As of December 15th, there was short interest totalling 5,060,000 shares, a decrease of 24.7% from the November 30th total of 6,720,000 shares. Based on an average trading volume of 1,840,000 shares, the days-to-cover ratio is presently 2.8 days.

Adaptimmune Therapeutics Stock Down 2.3 %

Adaptimmune Therapeutics stock traded down $0.01 during midday trading on Monday, reaching $0.58. The stock had a trading volume of 302,770 shares, compared to its average volume of 1,786,886. The stock has a market capitalization of $147.49 million, a P/E ratio of -2.62 and a beta of 2.18. The firm’s fifty day simple moving average is $0.69 and its 200-day simple moving average is $0.94. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.82 and a current ratio of 3.85. Adaptimmune Therapeutics has a 1-year low of $0.55 and a 1-year high of $2.05.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Several hedge funds have recently made changes to their positions in ADAP. Baillie Gifford & Co. boosted its holdings in Adaptimmune Therapeutics by 10.7% during the third quarter. Baillie Gifford & Co. now owns 16,775,860 shares of the biotechnology company’s stock worth $15,944,000 after purchasing an additional 1,626,657 shares during the last quarter. Long Focus Capital Management LLC lifted its position in Adaptimmune Therapeutics by 15.6% during the 2nd quarter. Long Focus Capital Management LLC now owns 12,346,417 shares of the biotechnology company’s stock worth $12,037,000 after buying an additional 1,662,184 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Adaptimmune Therapeutics by 28.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,786,341 shares of the biotechnology company’s stock worth $1,742,000 after buying an additional 394,566 shares during the last quarter. FMR LLC grew its holdings in shares of Adaptimmune Therapeutics by 3.0% in the 3rd quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock valued at $1,655,000 after acquiring an additional 50,419 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of Adaptimmune Therapeutics by 130.4% in the third 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. 31.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Guggenheim cut their price objective on Adaptimmune Therapeutics from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, November 15th. StockNews.com lowered shares of Adaptimmune Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. HC Wainwright reduced their price target on shares of Adaptimmune Therapeutics from $4.00 to $3.50 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Mizuho dropped their price objective 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $2.79.

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.