Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target Lowered to $1.40 at Scotiabank

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective decreased by equities research analysts at Scotiabank from $3.15 to $1.40 in a research note issued on Friday,Benzinga reports. The firm presently has a “sector outperform” rating on the biotechnology company’s stock. Scotiabank’s target price points to a potential upside of 392.96% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. StockNews.com initiated coverage on shares of Adaptimmune Therapeutics in a report on Friday. They issued a “buy” rating on the stock. Mizuho lowered their price objective on Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $2.35.

Adaptimmune Therapeutics Trading Up 1.4 %

NASDAQ:ADAP traded up $0.00 during midday trading on Friday, hitting $0.28. The stock had a trading volume of 938,444 shares, compared to its average volume of 1,665,571. Adaptimmune Therapeutics has a one year low of $0.26 and a one year high of $1.65. The company has a quick ratio of 3.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $72.67 million, a price-to-earnings ratio of -1.27 and a beta of 2.52. The stock has a 50-day moving average of $0.55 and a 200 day moving average of $0.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Two Seas Capital LP acquired a new position in Adaptimmune Therapeutics in the fourth quarter valued at approximately $7,992,000. Two Sigma Investments LP boosted its holdings in Adaptimmune Therapeutics by 33.5% during the fourth quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock worth $41,000 after buying an additional 19,146 shares in the last quarter. Two Sigma Advisers LP grew its position in Adaptimmune Therapeutics by 492.0% during the fourth quarter. Two Sigma Advisers LP now owns 70,735 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 58,787 shares during the period. Jane Street Group LLC raised its position in shares of Adaptimmune Therapeutics by 87.7% in the fourth quarter. Jane Street Group LLC now owns 326,937 shares of the biotechnology company’s stock worth $176,000 after acquiring an additional 152,780 shares during the period. Finally, Long Focus Capital Management LLC raised its holdings in Adaptimmune Therapeutics by 54.1% in the 4th quarter. Long Focus Capital Management LLC now owns 20,494,393 shares of the biotechnology company’s stock worth $11,040,000 after purchasing an additional 7,194,503 shares during the period. 31.37% of the stock is currently owned by institutional investors and hedge funds.

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.