Adaptimmune Therapeutics (NASDAQ:ADAP) Downgraded to “Buy” Rating by StockNews.com

StockNews.com downgraded shares of Adaptimmune Therapeutics (NASDAQ:ADAP) from a strong-buy rating to a buy rating in a research note released on Thursday.

Separately, HC Wainwright reduced their target price on shares of Adaptimmune Therapeutics from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Thursday.

Adaptimmune Therapeutics Stock Performance

Shares of Adaptimmune Therapeutics stock traded up $0.01 on Thursday, reaching $0.60. The company’s stock had a trading volume of 2,716,292 shares, compared to its average volume of 1,694,080. Adaptimmune Therapeutics has a 52-week low of $0.42 and a 52-week high of $2.05. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.26. The stock has a 50-day moving average price of $0.89 and a 200-day moving average price of $1.04.

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

Institutional Trading of Adaptimmune Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. boosted its stake in Adaptimmune Therapeutics by 10.7% during the third quarter. Baillie Gifford & Co. now owns 16,775,860 shares of the biotechnology company’s stock worth $15,944,000 after buying an additional 1,626,657 shares during the period. Long Focus Capital Management LLC boosted 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 period. Renaissance Technologies LLC increased its holdings in Adaptimmune Therapeutics by 28.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,786,341 shares of the biotechnology company’s stock valued at $1,742,000 after purchasing an additional 394,566 shares during the last quarter. FMR LLC raised its position 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. Finally, GSA Capital Partners LLP acquired a new position in Adaptimmune Therapeutics during the third quarter worth $95,000. 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.