Guggenheim Cuts Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target to $3.00

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target lowered by Guggenheim from $4.00 to $3.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Guggenheim’s price objective would suggest a potential upside of 409.34% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on ADAP. HC Wainwright decreased their price objective on shares of Adaptimmune Therapeutics from $4.00 to $3.50 and set a “buy” rating for the company in a research report on Thursday. StockNews.com downgraded Adaptimmune Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $3.16.

Adaptimmune Therapeutics Stock Down 0.4 %

Shares of Adaptimmune Therapeutics stock traded down $0.00 during trading hours on Friday, reaching $0.59. 2,918,585 shares of the company were exchanged, compared to its average volume of 1,694,991. The firm has a market cap of $150.63 million, a PE ratio of -2.68 and a beta of 2.26. The stock’s fifty day moving average is $0.89 and its 200 day moving average is $1.04. 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.

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

Institutional Trading of Adaptimmune Therapeutics

A number of large investors have recently made changes to their positions in ADAP. Fullcircle Wealth LLC purchased a new stake in Adaptimmune Therapeutics in the third quarter valued at approximately $33,000. Vontobel Holding Ltd. increased its holdings in shares of 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 acquiring an additional 30,000 shares during the period. Boulder Hill Capital Management LP purchased a new stake in Adaptimmune Therapeutics in the 1st quarter valued at $143,000. GSA Capital Partners LLP purchased a new position in Adaptimmune Therapeutics during the 3rd quarter worth $95,000. Finally, FMR LLC increased its stake in Adaptimmune Therapeutics by 3.0% in the third quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock valued at $1,655,000 after purchasing an additional 50,419 shares during the period. 31.37% of the stock is owned by institutional investors and hedge funds.

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.