Q2 2024 EPS Estimates for Adaptimmune Therapeutics plc (NASDAQ:ADAP) Reduced by Analyst

Adaptimmune Therapeutics plc (NASDAQ:ADAP - Free Report) - Analysts at Leerink Partnrs dropped their Q2 2024 earnings per share (EPS) estimates for shares of Adaptimmune Therapeutics in a research note issued to investors on Wednesday, May 15th. Leerink Partnrs analyst J. Chang now expects that the biotechnology company will earn ($0.17) per share for the quarter, down from their previous forecast of ($0.16). The consensus estimate for Adaptimmune Therapeutics' current full-year earnings is ($0.49) per share. Leerink Partnrs also issued estimates for Adaptimmune Therapeutics' Q3 2024 earnings at ($0.15) EPS, FY2024 earnings at ($0.65) EPS and FY2025 earnings at ($0.33) EPS.

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) last issued its quarterly earnings data on Wednesday, March 6th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.12). The firm had revenue of $0.23 million for the quarter, compared to analysts' expectations of $4.80 million. Adaptimmune Therapeutics had a negative return on equity of 213.43% and a negative net margin of 890.13%.

Separately, Mizuho decreased their price target on Adaptimmune Therapeutics from $9.00 to $3.00 and set a "buy" rating on the stock in a report on Friday.

Adaptimmune Therapeutics Stock Performance

Shares of ADAP traded down $0.09 during mid-day trading on Friday, hitting $1.11. 1,056,665 shares of the stock were exchanged, compared to its average volume of 1,614,020. The firm has a 50-day moving average of $1.27 and a two-hundred day moving average of $0.99. Adaptimmune Therapeutics has a 52-week low of $0.42 and a 52-week high of $2.05. The company has a market cap of $273.97 million, a PE ratio of -1.50 and a beta of 2.44.

Institutional Trading of Adaptimmune Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of ADAP. Key Client Fiduciary Advisors LLC grew its position in shares of Adaptimmune Therapeutics by 6.4% during the 4th quarter. Key Client Fiduciary Advisors LLC now owns 336,620 shares of the biotechnology company's stock worth $267,000 after buying an additional 20,295 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Adaptimmune Therapeutics by 9.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 147,732 shares of the biotechnology company's stock worth $117,000 after buying an additional 13,317 shares in the last quarter. Boulder Hill Capital Management LP bought a new position in shares of Adaptimmune Therapeutics during the 1st quarter worth $143,000. Twin Focus Capital Partners LLC bought a new position in shares of Adaptimmune Therapeutics during the 4th quarter worth $44,000. Finally, JTC Employer Solutions Trustee Ltd bought a new position in shares of Adaptimmune Therapeutics during the 1st quarter worth $41,000. Hedge funds and other institutional investors 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.