Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Price Passes Below 50 Day Moving Average - What's Next?

Key Points

• Adaptimmune Therapeutics' stock price recently fell below its fifty-day moving average of $0.10, closing at $0.06 amidst a trading volume of over 324 million shares.
• Several analysts have revised their ratings on Adaptimmune, with Mizuho lowering its price target from $1.50 to $0.50, resulting in a consensus target price of $1.35.
• Insider trading activity shows significant selling, with a director selling over 14 million shares at an average price of $0.01 recently, indicating potential lack of confidence from insiders.

Adaptimmune Therapeutics PLC (NASDAQ:ADAP - Get Free Report)'s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $0.10 and traded as low as $0.06. Adaptimmune Therapeutics shares last traded at $0.06, with a volume of 324,072,630 shares.

Analysts Set New Price Targets

ADAP has been the topic of several research reports. Guggenheim lowered shares of Adaptimmune Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 29th. HC Wainwright reissued a "neutral" rating on shares of Adaptimmune Therapeutics in a research note on Tuesday, July 29th. Mizuho lowered shares of Adaptimmune Therapeutics from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $1.50 to $0.50 in a research note on Thursday, June 26th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Adaptimmune Therapeutics in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus target price of $1.35.

Adaptimmune Therapeutics Stock Down 70.5%

The firm has a market capitalization of $15.64 million, a PE ratio of -0.09 and a beta of 2.49. The firm's fifty day simple moving average is $0.10 and its 200-day simple moving average is $0.20.

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) last issued its earnings results on Wednesday, August 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.04. The business had revenue of $13.68 million during the quarter, compared to analysts' expectations of $11.04 million. Adaptimmune Therapeutics had a negative net margin of 260.82% and a negative return on equity of 163.73%. As a group, analysts predict that Adaptimmune Therapeutics PLC will post -0.14 earnings per share for the current year.

Insider Buying and Selling at Adaptimmune Therapeutics

In other news, Director Ali Behbahani sold 14,671,794 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $0.01, for a total transaction of $146,717.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 19,803,000 shares of company stock worth $198,030 over the last three months. 12.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ADAP. Empirical Finance LLC purchased a new position in shares of Adaptimmune Therapeutics during the second quarter valued at approximately $192,000. Acadian Asset Management LLC raised its holdings in shares of Adaptimmune Therapeutics by 334.8% during 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. Two Seas Capital LP raised its holdings in shares of Adaptimmune Therapeutics by 38.4% during 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. Finally, Long Focus Capital Management LLC increased its holdings in Adaptimmune Therapeutics by 15.9% during 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 buying an additional 3,262,294 shares during the last quarter. 31.37% of the stock is owned by hedge funds and other institutional investors.

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.

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