StockNews.com Initiates Coverage on Adaptimmune Therapeutics (NASDAQ:ADAP)

StockNews.com initiated coverage on shares of Adaptimmune Therapeutics (NASDAQ:ADAP - Free Report) in a report released on Friday morning. The firm issued a buy rating on the biotechnology company's stock.

Several other research analysts have also recently weighed in on ADAP. Guggenheim reduced their price target on shares of Adaptimmune Therapeutics from $3.00 to $1.75 and set a "buy" rating for the company in a report on Wednesday, March 26th. Barclays cut their price objective on shares of Adaptimmune Therapeutics from $1.00 to $0.46 and set an "underweight" rating on the stock in a research report on Wednesday, May 14th. Scotiabank cut their price objective on shares of Adaptimmune Therapeutics from $3.15 to $1.40 and set a "sector outperform" rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company cut their price objective on shares of Adaptimmune Therapeutics from $1.50 to $1.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 14th. Finally, HC Wainwright cut their price objective on shares of Adaptimmune Therapeutics from $3.50 to $3.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Adaptimmune Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $1.52.

Adaptimmune Therapeutics Stock Down 4.3%

Shares of Adaptimmune Therapeutics stock traded down $0.01 on Friday, hitting $0.28. The company had a trading volume of 328,423 shares, compared to its average volume of 1,825,857. The firm has a market capitalization of $70.74 million, a P/E ratio of -1.25 and a beta of 2.86. Adaptimmune Therapeutics has a twelve month low of $0.20 and a twelve month high of $1.48. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.85 and a quick ratio of 3.82. The stock has a 50-day moving average of $0.27 and a 200-day moving average of $0.49.

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). The company had revenue of $7.29 million during the quarter, compared to analysts' expectations of $6.55 million. Adaptimmune Therapeutics had a negative net margin of 25.43% and a negative return on equity of 74.15%. Research 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 added to or reduced their stakes in the company. Long Focus Capital Management LLC increased its holdings in shares of Adaptimmune Therapeutics by 15.9% in the first quarter. Long Focus Capital Management LLC now owns 23,756,687 shares of the biotechnology company's stock valued at $4,680,000 after purchasing an additional 3,262,294 shares during the last quarter. Two Seas Capital LP increased its holdings in shares of Adaptimmune Therapeutics by 38.4% in the first quarter. Two Seas Capital LP now owns 20,529,685 shares of the biotechnology company's stock valued at $4,044,000 after purchasing an additional 5,694,539 shares during the last quarter. Renaissance Technologies LLC increased its holdings 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. Rock Springs Capital Management LP increased its holdings in shares of 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 valued at $1,338,000 after purchasing an additional 58,000 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Adaptimmune Therapeutics by 334.8% in the first quarter. Acadian Asset Management LLC now owns 2,218,215 shares of the biotechnology company's stock valued at $424,000 after purchasing an additional 1,707,999 shares during the last quarter. 31.37% of the stock is 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.