Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Passes Below Fifty Day Moving Average - Time to Sell?

Adaptimmune Therapeutics PLC (NASDAQ:ADAP - Get Free Report)'s share price passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.27 and traded as low as $0.24. Adaptimmune Therapeutics shares last traded at $0.25, with a volume of 462,731 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Guggenheim reduced their price objective 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. HC Wainwright reduced their price objective on Adaptimmune Therapeutics from $3.50 to $3.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Wall Street Zen assumed coverage on Adaptimmune Therapeutics in a research report on Friday, May 16th. They set a "buy" rating on the stock. Mizuho downgraded Adaptimmune Therapeutics from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $1.50 to $0.50 in a research report on Thursday. Finally, Scotiabank reduced their price objective on 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $1.35.

Adaptimmune Therapeutics Stock Performance

The firm has a 50 day simple moving average of $0.27 and a 200-day simple moving average of $0.41. The company has a debt-to-equity ratio of 4.24, a current ratio of 2.02 and a quick ratio of 1.79. The company 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 posted 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). The company had revenue of $7.29 million during the quarter, compared to analysts' expectations 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, analysts predict that Adaptimmune Therapeutics PLC will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC raised its holdings in shares of Adaptimmune Therapeutics by 21.5% in the 4th quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company's stock valued at $66,000 after buying an additional 21,688 shares during the period. LPL Financial LLC raised its holdings in shares of Adaptimmune Therapeutics by 106.5% in the 4th quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company's stock valued at $99,000 after buying an additional 94,623 shares during the period. Invesco Ltd. raised its holdings in shares of Adaptimmune Therapeutics by 82.0% in the 4th 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. Renaissance Technologies LLC raised its holdings in shares of Adaptimmune Therapeutics by 52.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,526,524 shares of the biotechnology company's stock valued at $1,361,000 after buying an additional 869,949 shares during the period. Finally, Rock Springs Capital Management LP raised its holdings 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 buying an additional 58,000 shares during the period. Institutional investors and hedge funds own 31.37% of the company's stock.

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.