StockNews.com Initiates Coverage on Adaptimmune Therapeutics (NASDAQ:ADAP)

StockNews.com began coverage on shares of Adaptimmune Therapeutics (NASDAQ:ADAP) in a report published on Wednesday morning. The firm issued a buy rating on the biotechnology company’s stock.

A number of other equities research analysts also recently issued reports on ADAP. Wells Fargo & Company cut their price target on Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating for the company in a research note on Friday, March 21st. HC Wainwright dropped their price target on shares of Adaptimmune Therapeutics from $3.50 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Guggenheim decreased their target price on Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating on the stock in a report on Wednesday, March 26th. Scotiabank lowered their price objective on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a research report on Friday, March 21st. Finally, Jones Trading lowered shares of Adaptimmune Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, April 11th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1.83.

Adaptimmune Therapeutics Price Performance

Shares of NASDAQ:ADAP opened at $0.29 on Wednesday. The business has a 50-day simple moving average of $0.33 and a two-hundred day simple moving average of $0.54. 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 firm has a market cap of $73.54 million, a price-to-earnings ratio of -1.30 and a beta of 2.84. Adaptimmune Therapeutics has a fifty-two week low of $0.20 and a fifty-two week high of $1.48.

Adaptimmune Therapeutics (NASDAQ:ADAP) last posted 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). The company had revenue of $3.22 million during the quarter, compared to the consensus estimate of $16.56 million. Adaptimmune Therapeutics had a negative return on equity of 74.15% and a negative net margin of 25.43%. On average, analysts expect that Adaptimmune Therapeutics will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Several institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC lifted its stake in Adaptimmune Therapeutics by 130.4% in the 3rd quarter. Jane Street Group LLC now owns 174,157 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 98,581 shares in the last quarter. Virtu Financial LLC increased its stake in Adaptimmune Therapeutics by 27.5% in the 3rd quarter. Virtu Financial LLC now owns 101,008 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 21,769 shares during the last quarter. LPL Financial LLC increased its stake in Adaptimmune Therapeutics by 106.5% in the 4th quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company’s stock worth $99,000 after acquiring an additional 94,623 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Adaptimmune Therapeutics by 82.0% during the 4th quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 28,526 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Adaptimmune Therapeutics by 52.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,526,524 shares of the biotechnology company’s stock valued at $1,361,000 after purchasing an additional 869,949 shares in 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.