Adaptimmune Therapeutics (NASDAQ:ADAP) Earns Buy Rating from Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Adaptimmune Therapeutics (NASDAQ:ADAP) in a report issued on Friday. The firm set a “buy” rating on the biotechnology company’s stock.

Separately, Mizuho dropped their target price on Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Adaptimmune Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $2.18.

Adaptimmune Therapeutics Trading 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 stock has a market capitalization of $74.41 million, a PE ratio of -1.32 and a beta of 2.52. The business’s 50 day moving average price is $0.54 and its 200 day moving average price is $0.70. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.82 and a current ratio of 3.85.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Investments LP raised 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 purchasing an additional 19,146 shares in the last quarter. Virtu Financial LLC raised its stake in Adaptimmune Therapeutics by 21.5% during the fourth quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 21,688 shares during the period. Invesco Ltd. raised its stake in Adaptimmune Therapeutics by 82.0% during the fourth quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 28,526 shares during the period. FMR LLC grew its position in Adaptimmune Therapeutics by 3.0% in the 3rd quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock worth $1,655,000 after purchasing an additional 50,419 shares during the last quarter. Finally, Rock Springs Capital Management LP grew its position in Adaptimmune Therapeutics by 2.4% in the 4th quarter. Rock Springs Capital Management LP now owns 2,483,468 shares of the biotechnology company’s stock worth $1,338,000 after purchasing an additional 58,000 shares during the last quarter. 31.37% of the stock is 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.