Adaptimmune Therapeutics (NASDAQ:ADAP) Given New $0.46 Price Target at Barclays

Adaptimmune Therapeutics (NASDAQ:ADAP) had its target price lowered by analysts at Barclays from $1.00 to $0.46 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the biotechnology company’s stock. Barclays‘s target price suggests a potential upside of 73.78% from the stock’s previous close.

Other analysts have also issued research reports about the company. StockNews.com started coverage on Adaptimmune Therapeutics in a report on Thursday, May 8th. They issued a “buy” rating for the company. Jones Trading lowered Adaptimmune Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, April 11th. Wells Fargo & Company lowered their price target on Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating for the company in a report on Friday, March 21st. HC Wainwright lowered their price target on Adaptimmune Therapeutics from $3.50 to $3.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Finally, Guggenheim lowered their price target on Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating for the company in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Adaptimmune Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $1.52.

Adaptimmune Therapeutics Stock Down 2.7%

Shares of NASDAQ:ADAP opened at $0.26 on Wednesday. Adaptimmune Therapeutics has a 1 year low of $0.20 and a 1 year high of $1.48. The business has a 50 day simple moving average of $0.29 and a two-hundred day simple moving average of $0.51. The firm has a market capitalization of $68.09 million, a PE ratio of -1.20 and a beta of 2.86. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.85 and a quick ratio of 3.82.

Adaptimmune Therapeutics (NASDAQ:ADAP) last announced its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). Adaptimmune Therapeutics had a negative return on equity of 74.15% and a negative net margin of 25.43%. The business had revenue of $7.29 million during the quarter, compared to analyst estimates of $6.55 million. On average, equities analysts predict that Adaptimmune Therapeutics will post -0.14 EPS for the current year.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its stake in Adaptimmune Therapeutics by 52.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,526,524 shares of the biotechnology company’s stock worth $1,361,000 after buying an additional 869,949 shares in the last quarter. Two Seas Capital LP bought a new position in Adaptimmune Therapeutics in the fourth quarter worth approximately $7,992,000. Long Focus Capital Management LLC raised its stake in Adaptimmune Therapeutics by 54.1% in the fourth quarter. Long Focus Capital Management LLC now owns 20,494,393 shares of the biotechnology company’s stock worth $11,040,000 after buying an additional 7,194,503 shares in the last quarter. LPL Financial LLC raised its stake in Adaptimmune Therapeutics by 106.5% in the fourth quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company’s stock worth $99,000 after buying an additional 94,623 shares in the last quarter. Finally, Rock Springs Capital Management LP raised its stake in Adaptimmune Therapeutics by 2.4% in the fourth quarter. Rock Springs Capital Management LP now owns 2,483,468 shares of the biotechnology company’s stock worth $1,338,000 after buying an additional 58,000 shares in the last quarter. Institutional investors own 31.37% of the company’s stock.

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.