Guggenheim Has Lowered Expectations for Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Price

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective reduced by analysts at Guggenheim from $4.00 to $3.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Guggenheim’s target price points to a potential upside of 409.34% from the company’s current price.

A number of other research analysts have also weighed in on the company. StockNews.com lowered Adaptimmune Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday. HC Wainwright lowered their target price on Adaptimmune Therapeutics from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Thursday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Adaptimmune Therapeutics presently has an average rating of “Buy” and an average price target of $3.16.

Adaptimmune Therapeutics Price Performance

Shares of ADAP stock traded down $0.00 on Friday, reaching $0.59. 2,918,585 shares of the company were exchanged, compared to its average volume of 1,694,991. Adaptimmune Therapeutics has a 1 year low of $0.42 and a 1 year high of $2.05. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.09 and a current ratio of 3.09. The business has a 50-day moving average price of $0.89 and a 200 day moving average price of $1.04. The company has a market cap of $150.63 million, a price-to-earnings ratio of -2.68 and a beta of 2.26.

Adaptimmune Therapeutics (NASDAQ:ADAP) last announced its earnings results on Monday, August 12th. The biotechnology company reported $0.27 EPS for the quarter. The business had revenue of $128.23 million during the quarter, compared to analysts’ expectations of $58.00 million. Adaptimmune Therapeutics had a negative return on equity of 83.38% and a negative net margin of 25.43%. Equities research analysts forecast that Adaptimmune Therapeutics will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Long Focus Capital Management LLC increased its position in shares of Adaptimmune Therapeutics by 15.6% during the 2nd quarter. Long Focus Capital Management LLC now owns 12,346,417 shares of the biotechnology company’s stock worth $12,037,000 after purchasing an additional 1,662,184 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Adaptimmune Therapeutics by 10.7% in the 3rd quarter. Baillie Gifford & Co. now owns 16,775,860 shares of the biotechnology company’s stock worth $15,944,000 after acquiring an additional 1,626,657 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Adaptimmune Therapeutics by 28.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,786,341 shares of the biotechnology company’s stock worth $1,742,000 after purchasing an additional 394,566 shares during the period. Vontobel Holding Ltd. increased its holdings in Adaptimmune Therapeutics by 230.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 43,000 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 30,000 shares during the last quarter. Finally, Fullcircle Wealth LLC purchased a new stake in Adaptimmune Therapeutics in the third quarter valued at approximately $33,000. Institutional investors and hedge funds 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.