Adaptimmune Therapeutics (NASDAQ:ADAP) Downgraded to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Adaptimmune Therapeutics (NASDAQ:ADAP) from a strong-buy rating to a buy rating in a research note released on Thursday morning.

Separately, HC Wainwright reduced their target price on shares of Adaptimmune Therapeutics from $4.00 to $3.50 and set a “buy” rating for the company in a report on Thursday.

Adaptimmune Therapeutics Stock Up 0.9 %

Adaptimmune Therapeutics stock traded up $0.01 during midday trading on Thursday, hitting $0.60. 2,716,292 shares of the company’s stock were exchanged, compared to its average volume of 1,694,080. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $0.89 and a two-hundred day moving average of $1.04. Adaptimmune Therapeutics has a 12 month low of $0.42 and a 12 month high of $2.05.

Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its quarterly earnings data on Monday, August 12th. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter. The company had revenue of $128.23 million for the quarter, compared to analyst estimates of $58.00 million. Adaptimmune Therapeutics had a negative net margin of 25.43% and a negative return on equity of 83.38%. On average, equities research analysts forecast that Adaptimmune Therapeutics will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Adaptimmune Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boulder Hill Capital Management LP purchased a new position in shares of Adaptimmune Therapeutics in the 1st quarter valued at approximately $143,000. Renaissance Technologies LLC increased its stake in Adaptimmune Therapeutics by 28.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,786,341 shares of the biotechnology company’s stock valued at $1,742,000 after purchasing an additional 394,566 shares in the last quarter. Long Focus Capital Management LLC raised its holdings in shares of Adaptimmune Therapeutics by 15.6% in the second quarter. Long Focus Capital Management LLC now owns 12,346,417 shares of the biotechnology company’s stock worth $12,037,000 after buying an additional 1,662,184 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Adaptimmune Therapeutics by 230.8% during the third quarter. Vontobel Holding Ltd. now owns 43,000 shares of the biotechnology company’s stock worth $41,000 after buying an additional 30,000 shares during the period. Finally, Fullcircle Wealth LLC purchased a new stake in shares of Adaptimmune Therapeutics during the third quarter valued at $33,000. 31.37% of the stock is currently 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.