Bank of America Corp DE Has $1.54 Million Stock Position in Adaptimmune Therapeutics plc (NASDAQ:ADAP)

Bank of America Corp DE cut its holdings in shares of Adaptimmune Therapeutics plc (NASDAQ:ADAP - Free Report) by 38.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,862,330 shares of the biotechnology company's stock after selling 1,790,995 shares during the period. Bank of America Corp DE owned approximately 1.12% of Adaptimmune Therapeutics worth $1,540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ADAP. Renaissance Technologies LLC raised its holdings in shares of Adaptimmune Therapeutics by 52.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,526,524 shares of the biotechnology company's stock valued at $1,361,000 after acquiring an additional 869,949 shares during the period. Two Seas Capital LP acquired a new stake in shares of Adaptimmune Therapeutics during the fourth quarter valued at approximately $7,992,000. Jane Street Group LLC raised its holdings in shares of Adaptimmune Therapeutics by 87.7% during the fourth quarter. Jane Street Group LLC now owns 326,937 shares of the biotechnology company's stock valued at $176,000 after acquiring an additional 152,780 shares during the period. Long Focus Capital Management LLC raised its holdings in shares of Adaptimmune Therapeutics by 54.1% during the fourth quarter. Long Focus Capital Management LLC now owns 20,494,393 shares of the biotechnology company's stock valued at $11,040,000 after acquiring an additional 7,194,503 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of Adaptimmune Therapeutics by 106.5% during the fourth quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company's stock valued at $99,000 after acquiring an additional 94,623 shares during the period. 31.37% of the stock is owned by institutional investors and hedge funds.

Adaptimmune Therapeutics Stock Performance

Adaptimmune Therapeutics stock traded down $0.00 during mid-day trading on Friday, reaching $0.28. The company had a trading volume of 873,840 shares, compared to its average volume of 1,718,684. The company has a quick ratio of 3.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.62. Adaptimmune Therapeutics plc has a 52 week low of $0.20 and a 52 week high of $1.48. The company has a 50 day moving average of $0.27 and a 200-day moving average of $0.45. The firm has a market cap of $75.01 million, a price-to-earnings ratio of -1.29 and a beta of 2.24.

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.18) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.18). Adaptimmune Therapeutics had a negative net margin of 25.43% and a negative return on equity of 74.15%. The firm had revenue of $7.29 million during the quarter, compared to the consensus estimate of $6.55 million. On average, sell-side analysts expect that Adaptimmune Therapeutics plc will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on ADAP. Scotiabank dropped 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 note on Friday, March 21st. HC Wainwright decreased their target price 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 decreased their price objective on shares of Adaptimmune Therapeutics from $1.50 to $1.00 and set an "equal weight" rating for the company in a report on Wednesday, May 14th. Guggenheim decreased their price objective 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. Finally, Jones Trading downgraded shares of Adaptimmune Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1.52.

Adaptimmune Therapeutics 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.