Adaptimmune Therapeutics (NASDAQ:ADAP) Shares Cross Below 50 Day Moving Average - What's Next?

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

Analyst Ratings Changes

ADAP has been the topic of several recent research reports. Scotiabank dropped their target price 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. Mizuho cut shares of Adaptimmune Therapeutics from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $1.50 to $0.50 in a research note on Thursday. HC Wainwright dropped their price objective on Adaptimmune Therapeutics from $3.50 to $3.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Barclays cut their price target on shares of Adaptimmune Therapeutics from $1.00 to $0.46 and set an "underweight" rating for the company in a research note on Wednesday, May 14th. Finally, Guggenheim cut their price objective on Adaptimmune Therapeutics from $3.00 to $1.75 and set a "buy" rating for the company in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Adaptimmune Therapeutics currently has an average rating of "Hold" and a consensus target price of $1.35.

Adaptimmune Therapeutics Price Performance

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 stock has a market cap of $64.94 million, a P/E ratio of -0.91 and a beta of 2.24. The firm's fifty day moving average price is $0.27 and its 200-day moving average price is $0.41.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Invesco Ltd. grew its position 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 worth $34,000 after buying an additional 28,526 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Adaptimmune Therapeutics by 492.0% in the fourth 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 period. Two Sigma Investments LP lifted its stake in Adaptimmune Therapeutics by 33.5% in the fourth 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 period. Virtu Financial LLC boosted its holdings in Adaptimmune Therapeutics by 21.5% in the fourth quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company's stock valued at $66,000 after acquiring an additional 21,688 shares in the last quarter. Finally, LPL Financial LLC increased its position in Adaptimmune Therapeutics by 106.5% during the 4th quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company's stock valued at $99,000 after purchasing an additional 94,623 shares during the period. 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.