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

Stock analysts at StockNews.com started coverage on shares of Adaptimmune Therapeutics (NASDAQ:ADAP) in a research note issued on Tuesday. The brokerage set a “buy” rating on the biotechnology company’s stock.

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

Adaptimmune Therapeutics Price Performance

ADAP stock opened at $0.26 on Tuesday. Adaptimmune Therapeutics has a 12-month low of $0.20 and a 12-month high of $1.48. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $0.37 and a 200-day moving average of $0.57. The company has a market cap of $66.93 million, a price-to-earnings ratio of -1.18 and a beta of 2.84.

Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its quarterly earnings results on Monday, March 24th. The biotechnology company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.09). Adaptimmune Therapeutics had a negative net margin of 25.43% and a negative return on equity of 74.15%. The business had revenue of $3.22 million during the quarter, compared to analyst estimates of $16.56 million. As a group, equities analysts expect that Adaptimmune Therapeutics will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC boosted its position in shares of Adaptimmune Therapeutics by 130.4% during the third quarter. Jane Street Group LLC now owns 174,157 shares of the biotechnology company’s stock worth $166,000 after buying an additional 98,581 shares during the period. Virtu Financial LLC grew its holdings in Adaptimmune Therapeutics by 27.5% during the third quarter. Virtu Financial LLC now owns 101,008 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 21,769 shares during the period. LPL Financial LLC boosted its position in Adaptimmune Therapeutics by 106.5% during the fourth quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company’s stock worth $99,000 after purchasing an additional 94,623 shares during the period. Invesco Ltd. grew its stake in Adaptimmune Therapeutics by 82.0% in the 4th quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 28,526 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position 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 during the last quarter. Institutional investors own 31.37% of the company’s stock.

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.