Guggenheim Has Lowered Expectations for Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Price

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective reduced by Guggenheim from $4.00 to $3.00 in a report released on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the biotechnology company’s stock.

A number of other equities analysts have also recently commented on the stock. StockNews.com cut shares of Adaptimmune Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 14th. HC Wainwright dropped 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 note on Thursday, November 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $3.16.

Adaptimmune Therapeutics Stock Performance

Shares of NASDAQ:ADAP opened at $0.60 on Friday. Adaptimmune Therapeutics has a 52 week low of $0.42 and a 52 week high of $2.05. The stock has a market capitalization of $152.17 million, a P/E ratio of -2.70 and a beta of 2.26. The firm has a fifty day simple moving average of $0.87 and a two-hundred day simple moving average of $1.03. The company has a quick ratio of 3.09, a current ratio of 3.85 and a debt-to-equity ratio of 0.62.

Institutional Investors Weigh In On Adaptimmune Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its holdings in Adaptimmune Therapeutics by 10.7% during the 3rd quarter. Baillie Gifford & Co. now owns 16,775,860 shares of the biotechnology company’s stock valued at $15,944,000 after buying an additional 1,626,657 shares in the last quarter. Long Focus Capital Management LLC lifted its holdings in 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 valued at $12,037,000 after buying an additional 1,662,184 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Adaptimmune Therapeutics by 28.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,786,341 shares of the biotechnology company’s stock valued at $1,742,000 after buying an additional 394,566 shares in the last quarter. FMR LLC lifted its holdings in Adaptimmune Therapeutics by 3.0% during the 3rd quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock valued at $1,655,000 after buying an additional 50,419 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in Adaptimmune Therapeutics by 130.4% during the 3rd quarter. Jane Street Group LLC now owns 174,157 shares of the biotechnology company’s stock valued at $166,000 after buying an additional 98,581 shares in the last quarter. 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.