Adaptimmune Therapeutics (NASDAQ:ADAP) Given New $1.75 Price Target at Guggenheim

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target lowered by equities researchers at Guggenheim from $3.00 to $1.75 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock.

A number of other research firms have also issued reports on ADAP. Wells Fargo & Company reduced their price target on shares of Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Scotiabank reduced their target price on shares of Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating for the company in a report on Friday, March 21st. Mizuho lowered their price target on shares of Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Finally, StockNews.com assumed coverage on Adaptimmune Therapeutics in a research note on Friday, March 21st. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1.93.

Adaptimmune Therapeutics Trading Down 1.6 %

NASDAQ:ADAP opened at $0.25 on Wednesday. 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 fifty day simple moving average of $0.53 and a 200-day simple moving average of $0.68. Adaptimmune Therapeutics has a 12 month low of $0.25 and a 12 month high of $1.65. The company has a market capitalization of $62.95 million, a P/E ratio of -1.12 and a beta of 2.52.

Adaptimmune Therapeutics (NASDAQ:ADAP) last posted 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 firm had revenue of $3.22 million for the quarter, compared to analysts’ expectations of $16.56 million. On average, equities research analysts anticipate that Adaptimmune Therapeutics will post -0.14 earnings per share for the current year.

Hedge Funds Weigh In On Adaptimmune Therapeutics

A number of hedge funds have recently modified their holdings of the business. Long Focus Capital Management LLC lifted its holdings in Adaptimmune Therapeutics by 54.1% during the 4th 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. Two Seas Capital LP purchased a new position in shares of Adaptimmune Therapeutics in the 4th quarter valued at about $7,992,000. Renaissance Technologies LLC lifted its position in shares of Adaptimmune Therapeutics by 52.5% during the 4th 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 during the last quarter. Rock Springs Capital Management LP boosted its position in shares of 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 valued at $1,338,000 after purchasing an additional 58,000 shares during the period. Finally, FMR LLC grew its stake in Adaptimmune Therapeutics by 3.0% during the 3rd quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock worth $1,655,000 after buying an additional 50,419 shares during the last quarter. 31.37% of the stock is currently owned by hedge funds and other institutional investors.

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.