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

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) was downgraded by analysts at Mizuho from an "outperform" rating to a "neutral" rating in a report released on Thursday, Marketbeat Ratings reports. They presently 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 would suggest a potential upside of 104.08% from the stock's current price.

A number of other analysts also recently weighed in on ADAP. HC Wainwright cut their target price on Adaptimmune Therapeutics from $3.50 to $3.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Guggenheim cut their target price on Adaptimmune Therapeutics from $3.00 to $1.75 and set a "buy" rating for the company in a research report on Wednesday, March 26th. Barclays dropped their price objective on Adaptimmune Therapeutics from $1.00 to $0.46 and set an "underweight" rating for the company in a research report on Wednesday, May 14th. Jones Trading downgraded Adaptimmune Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company dropped their price objective on Adaptimmune Therapeutics from $1.50 to $1.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $1.35.

Adaptimmune Therapeutics Price Performance

Shares of NASDAQ:ADAP traded up $0.00 during trading on Thursday, reaching $0.25. 936,666 shares of the company traded hands, compared to its average volume of 1,678,391. The company's 50 day moving average is $0.27 and its two-hundred day moving average is $0.41. The firm has a market capitalization of $64.94 million, a PE ratio of -0.91 and a beta of 2.24. 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 has a 52 week low of $0.20 and a 52 week high of $1.48.

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

Institutional Trading of Adaptimmune Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ADAP. Invesco Ltd. increased its stake in shares of Adaptimmune Therapeutics by 82.0% in the fourth 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 period. Two Sigma Advisers LP grew its stake in Adaptimmune Therapeutics by 492.0% during the fourth quarter. Two Sigma Advisers LP now owns 70,735 shares of the biotechnology company's stock worth $38,000 after purchasing an additional 58,787 shares during the period. Two Sigma Investments LP grew its stake in Adaptimmune Therapeutics by 33.5% during the fourth quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 19,146 shares during the period. Virtu Financial LLC grew its stake in Adaptimmune Therapeutics by 21.5% during the fourth quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company's stock worth $66,000 after purchasing an additional 21,688 shares during the period. Finally, LPL Financial LLC grew its stake 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. 31.37% of the stock is currently owned by institutional investors.

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.