Wells Fargo & Company Cuts Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target to $1.50

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target dropped by stock analysts at Wells Fargo & Company from $2.00 to $1.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 406.76% from the stock’s current price.

Other research analysts have also issued reports about the company. Scotiabank cut their target price on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a research report on Friday. Mizuho decreased their target price on Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Finally, StockNews.com initiated coverage on shares of Adaptimmune Therapeutics in a report on Friday. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $2.18.

Adaptimmune Therapeutics Trading Up 5.7 %

ADAP stock traded up $0.02 during midday trading on Friday, hitting $0.30. The stock had a trading volume of 4,630,664 shares, compared to its average volume of 1,679,273. The company’s 50-day moving average price is $0.55 and its 200 day moving average price is $0.71. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.85 and a quick ratio of 3.82. The firm has a market cap of $75.74 million, a PE ratio of -1.33 and a beta of 2.52. Adaptimmune Therapeutics has a 12-month low of $0.26 and a 12-month high of $1.65.

Institutional Trading of Adaptimmune Therapeutics

Several large investors have recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of Adaptimmune Therapeutics by 82.0% in the fourth quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 28,526 shares during the period. Two Sigma Advisers LP boosted its position in Adaptimmune Therapeutics by 492.0% in the 4th 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 last quarter. Two Sigma Investments LP grew its stake in shares of Adaptimmune Therapeutics by 33.5% during the fourth quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 19,146 shares in the last quarter. Virtu Financial LLC increased its position in shares of Adaptimmune Therapeutics by 21.5% during the fourth quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 21,688 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Adaptimmune Therapeutics in the third quarter worth about $95,000. 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.