Adaptimmune Therapeutics (NASDAQ:ADAP) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Adaptimmune Therapeutics (NASDAQ:ADAP) in a research note published on Monday, Benzinga reports. HC Wainwright currently has a $4.00 price target on the biotechnology company’s stock.

ADAP has been the subject of several other reports. StockNews.com upgraded Adaptimmune Therapeutics from a sell rating to a hold rating in a report on Monday, June 3rd. Scotiabank initiated coverage on shares of Adaptimmune Therapeutics in a report on Thursday, May 30th. They issued a sector outperform rating and a $3.15 price objective for the company. Finally, Mizuho reduced their target price on shares of Adaptimmune Therapeutics from $9.00 to $3.00 and set a buy rating on the stock in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $3.03.

Adaptimmune Therapeutics Stock Performance

Shares of NASDAQ:ADAP traded up $0.02 during midday trading on Monday, hitting $1.00. The company’s stock had a trading volume of 1,780,139 shares, compared to its average volume of 1,831,550. The company has a market cap of $246.82 million, a P/E ratio of -1.35 and a beta of 2.31. Adaptimmune Therapeutics has a 12-month low of $0.42 and a 12-month high of $2.05. The business’s 50 day simple moving average is $1.10 and its 200 day simple moving average is $1.19.

Adaptimmune Therapeutics (NASDAQ:ADAP) last released its quarterly earnings data on Wednesday, May 15th. The biotechnology company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02). The business had revenue of $5.68 million during the quarter, compared to analyst estimates of $4.40 million. Adaptimmune Therapeutics had a negative net margin of 890.13% and a negative return on equity of 259.68%. On average, sell-side analysts predict that Adaptimmune Therapeutics will post -0.55 earnings per share 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 purchased a new stake in Adaptimmune Therapeutics in the 1st quarter valued at about $143,000. JTC Employer Solutions Trustee Ltd purchased a new position in Adaptimmune Therapeutics during the first quarter worth about $41,000. Columbia Advisory Partners LLC acquired a new stake in shares of Adaptimmune Therapeutics during the first quarter valued at about $25,000. Finally, Twin Focus Capital Partners LLC purchased a new stake in shares of Adaptimmune Therapeutics in the 4th quarter valued at approximately $44,000. 31.37% of the stock is currently owned by hedge funds and other institutional investors.

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.