Adaptimmune Therapeutics PLC (NASDAQ:ADAP) Receives $1.35 Average Target Price from Analysts

Adaptimmune Therapeutics PLC (NASDAQ:ADAP) has earned a consensus rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $1.35.

Several research firms recently commented on ADAP. Barclays cut their price target on Adaptimmune Therapeutics from $1.00 to $0.46 and set an “underweight” rating on the stock in a research note on Wednesday, May 14th. Jones Trading cut Adaptimmune Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 11th. Scotiabank cut their price objective on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a research note on Friday, March 21st. Guggenheim cut their price objective on Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Finally, HC Wainwright lowered their price target on Adaptimmune Therapeutics from $3.50 to $3.00 and set a “buy” rating on the stock in a research report on Tuesday, April 1st.

Hedge Funds Weigh In On Adaptimmune Therapeutics

A number of large investors have recently bought and sold shares of the business. Virtu Financial LLC lifted its position in Adaptimmune Therapeutics by 21.5% during the 4th 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 last quarter. LPL Financial LLC lifted its holdings in Adaptimmune Therapeutics by 106.5% in the fourth quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 94,623 shares during the period. Invesco Ltd. raised its holdings in Adaptimmune Therapeutics by 82.0% in the fourth quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 28,526 shares during the period. Renaissance Technologies LLC raised its holdings 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 purchasing an additional 869,949 shares during the period. Finally, Rock Springs Capital Management LP raised its holdings 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 purchasing an additional 58,000 shares during the period. Institutional investors own 31.37% of the company’s stock.

Adaptimmune Therapeutics Stock Down 3.3%

Shares of ADAP opened at $0.23 on Friday. The firm has a market cap of $61.47 million, a PE ratio of -0.86 and a beta of 2.18. The company’s fifty day moving average is $0.27 and its two-hundred day moving average is $0.41. Adaptimmune Therapeutics has a fifty-two week low of $0.20 and a fifty-two week high of $1.48. The company has a quick ratio of 1.79, a current ratio of 2.02 and a debt-to-equity ratio of 4.24.

Adaptimmune Therapeutics (NASDAQ:ADAP) last posted its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, hitting the consensus estimate of ($0.18). Adaptimmune Therapeutics had a negative net margin of 38.91% and a negative return on equity of 163.73%. The business had revenue of $7.29 million during the quarter, compared to analysts’ expectations of $6.55 million. Analysts forecast that Adaptimmune Therapeutics will post -0.14 earnings per share for the current year.

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.