HC Wainwright Reiterates “Buy” Rating for Adaptimmune Therapeutics (NASDAQ:ADAP)

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

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

Adaptimmune Therapeutics Trading Down 2.3 %

NASDAQ ADAP opened at $0.99 on Monday. Adaptimmune Therapeutics has a 1 year low of $0.42 and a 1 year high of $2.05. The company has a market cap of $243.62 million, a PE ratio of -1.33 and a beta of 2.31. The stock’s 50-day moving average price is $1.10 and its two-hundred day moving average price is $1.19.

Adaptimmune Therapeutics (NASDAQ:ADAP) last released its earnings results on Wednesday, May 15th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). Adaptimmune Therapeutics had a negative return on equity of 259.68% and a negative net margin of 890.13%. The firm had revenue of $5.68 million during the quarter, compared to analysts’ expectations of $4.40 million. Research analysts forecast that Adaptimmune Therapeutics will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Boulder Hill Capital Management LP acquired a new stake in shares of Adaptimmune Therapeutics during the 1st quarter valued at about $143,000. Twin Focus Capital Partners LLC bought a new position in Adaptimmune Therapeutics during the fourth quarter valued at approximately $44,000. JTC Employer Solutions Trustee Ltd bought a new position in Adaptimmune Therapeutics during the first quarter valued at approximately $41,000. Finally, Columbia Advisory Partners LLC acquired a new stake in Adaptimmune Therapeutics in the first quarter valued at approximately $25,000. Hedge funds and other institutional investors 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.