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

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective cut by stock analysts at Scotiabank from $3.15 to $1.40 in a report issued on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the biotechnology company’s stock. Scotiabank’s price target points to a potential upside of 381.43% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. StockNews.com assumed coverage on Adaptimmune Therapeutics in a research note on Friday. They issued a “buy” rating for the company. Mizuho reduced their price objective on Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $2.18.

Adaptimmune Therapeutics Price Performance

ADAP stock opened at $0.29 on Friday. The business has a 50 day moving average price of $0.54 and a 200 day moving average price of $0.70. The stock has a market cap of $74.41 million, a price-to-earnings ratio of -1.32 and a beta of 2.52. Adaptimmune Therapeutics has a fifty-two week low of $0.26 and a fifty-two week 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.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Two Seas Capital LP acquired a new position in Adaptimmune Therapeutics during the fourth quarter worth $7,992,000. Long Focus Capital Management LLC grew its holdings in Adaptimmune Therapeutics by 54.1% during the fourth quarter. Long Focus Capital Management LLC now owns 20,494,393 shares of the biotechnology company’s stock worth $11,040,000 after acquiring an additional 7,194,503 shares during the period. Renaissance Technologies LLC grew its holdings in Adaptimmune Therapeutics by 52.5% during the fourth quarter. Renaissance Technologies LLC now owns 2,526,524 shares of the biotechnology company’s stock worth $1,361,000 after acquiring an additional 869,949 shares during the period. Jane Street Group LLC grew its holdings in Adaptimmune Therapeutics by 87.7% during 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, GSA Capital Partners LLP acquired a new position in Adaptimmune Therapeutics during the third quarter worth $95,000. Institutional investors and hedge funds 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.