Adaptimmune Therapeutics (NASDAQ:ADAP) PT Lowered to $3.00 at Mizuho

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) had its price target dropped by Mizuho from $9.00 to $3.00 in a report released on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. Mizuho's price objective would suggest a potential upside of 170.27% from the company's current price.

Adaptimmune Therapeutics Stock Performance

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

Adaptimmune Therapeutics (NASDAQ:ADAP - Get Free Report) last posted its quarterly earnings results 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). Adaptimmune Therapeutics had a negative return on equity of 213.43% and a negative net margin of 890.13%. The firm had revenue of $0.23 million for the quarter, compared to analyst estimates of $4.80 million. As a group, sell-side analysts expect that Adaptimmune Therapeutics will post -0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Adaptimmune Therapeutics

A number of hedge funds have recently modified their holdings of ADAP. Boulder Hill Capital Management LP acquired a new position in shares of Adaptimmune Therapeutics during the first quarter worth $143,000. Twin Focus Capital Partners LLC bought a new position in Adaptimmune Therapeutics during the fourth quarter worth $44,000. JTC Employer Solutions Trustee Ltd bought a new position in Adaptimmune Therapeutics during the first quarter worth $41,000. Key Client Fiduciary Advisors LLC raised its stake in Adaptimmune Therapeutics by 6.4% during the fourth 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 during the last quarter. Finally, Columbia Advisory Partners LLC bought a new position in Adaptimmune Therapeutics during the first quarter worth $25,000. Institutional investors and hedge funds 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.