Adaptimmune Therapeutics (NASDAQ:ADAP) Cut to Neutral at Mizuho

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) was downgraded by equities research analysts at Mizuho from an "outperform" rating to a "neutral" rating in a note issued to investors on Thursday, Marketbeat reports. They currently have a $0.50 target price on the biotechnology company's stock, down from their prior target price of $1.50. Mizuho's price objective points to a potential upside of 104.08% from the company's current price.

ADAP has been the subject of a number of other reports. Barclays cut their target price on Adaptimmune Therapeutics from $1.00 to $0.46 and set an "underweight" rating for the company in a research note on Wednesday, May 14th. Guggenheim lowered their price target on Adaptimmune Therapeutics from $3.00 to $1.75 and set a "buy" rating on the stock in a research report on Wednesday, March 26th. Scotiabank decreased their target price on Adaptimmune Therapeutics from $3.15 to $1.40 and set a "sector outperform" rating on the stock in a report on Friday, March 21st. Jones Trading lowered Adaptimmune Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Wall Street Zen assumed coverage on Adaptimmune Therapeutics in a research note on Friday, May 16th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Adaptimmune Therapeutics currently has an average rating of "Hold" and an average price target of $1.35.

Adaptimmune Therapeutics Trading Up 1.2%

Shares of NASDAQ:ADAP traded up $0.00 during midday trading on Thursday, reaching $0.25. The company had a trading volume of 936,666 shares, compared to its average volume of 1,678,704. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.79 and a current ratio of 2.02. Adaptimmune Therapeutics has a 1-year low of $0.20 and a 1-year high of $1.48. The company has a fifty day simple moving average of $0.27 and a two-hundred day simple moving average of $0.41. The firm has a market cap of $64.94 million, a price-to-earnings ratio of -0.91 and a beta of 2.24.

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.18) EPS for the quarter, meeting the consensus estimate of ($0.18). Adaptimmune Therapeutics had a negative return on equity of 163.73% and a negative net margin of 38.91%. The business had revenue of $7.29 million during the quarter, compared to analysts' expectations of $6.55 million. Research analysts predict that Adaptimmune Therapeutics will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Long Focus Capital Management LLC grew its holdings in shares of Adaptimmune Therapeutics by 15.9% during the first quarter. Long Focus Capital Management LLC now owns 23,756,687 shares of the biotechnology company's stock worth $4,680,000 after buying an additional 3,262,294 shares in the last quarter. Two Seas Capital LP grew its holdings in shares of Adaptimmune Therapeutics by 38.4% during the first quarter. Two Seas Capital LP now owns 20,529,685 shares of the biotechnology company's stock worth $4,044,000 after buying an additional 5,694,539 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Adaptimmune Therapeutics by 52.5% during 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. Rock Springs Capital Management LP grew its holdings in shares of Adaptimmune Therapeutics by 2.4% during 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. Finally, Acadian Asset Management LLC grew its holdings in shares of Adaptimmune Therapeutics by 334.8% during the first quarter. Acadian Asset Management LLC now owns 2,218,215 shares of the biotechnology company's stock worth $424,000 after buying an additional 1,707,999 shares in the last quarter. 31.37% of the stock is currently owned by 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.