Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Passes Below 50 Day Moving Average - Here's What Happened

Adaptimmune Therapeutics PLC (NASDAQ:ADAP - Get Free Report) shares crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $0.27 and traded as low as $0.24. Adaptimmune Therapeutics shares last traded at $0.24, with a volume of 327,555 shares changing hands.

Analysts Set New Price Targets

ADAP has been the subject of several research reports. HC Wainwright reduced their price target on shares of Adaptimmune Therapeutics from $3.50 to $3.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Wells Fargo & Company cut their target price on Adaptimmune Therapeutics from $1.50 to $1.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 14th. Scotiabank cut their target price on shares of 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 downgraded shares of Adaptimmune Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Mizuho downgraded shares of Adaptimmune Therapeutics from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $1.50 to $0.50 in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $1.35.

Adaptimmune Therapeutics Stock Up 4.9%

The company has a quick ratio of 1.79, a current ratio of 2.02 and a debt-to-equity ratio of 4.24. The company's fifty day moving average is $0.27 and its 200-day moving average is $0.39. The company has a market cap of $67.06 million, a PE ratio of -0.94 and a beta of 2.18.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its stake in shares of Adaptimmune Therapeutics by 82.0% during the 4th quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company's stock worth $34,000 after acquiring an additional 28,526 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Adaptimmune Therapeutics by 492.0% during the 4th quarter. Two Sigma Advisers LP now owns 70,735 shares of the biotechnology company's stock worth $38,000 after acquiring an additional 58,787 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Adaptimmune Therapeutics by 33.5% during the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company's stock worth $41,000 after acquiring an additional 19,146 shares during the last quarter. Virtu Financial LLC boosted its stake in shares of Adaptimmune Therapeutics by 21.5% during the 4th quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company's stock worth $66,000 after acquiring an additional 21,688 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Adaptimmune Therapeutics by 106.5% during the 4th quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company's stock worth $99,000 after acquiring an additional 94,623 shares during the last quarter. Hedge funds and other institutional investors own 31.37% of the company's stock.

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.