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

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective decreased by Wells Fargo & Company from $2.00 to $1.50 in a report issued on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the biotechnology company’s stock.

Several other brokerages have also recently issued reports on ADAP. Mizuho reduced their price objective on Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. StockNews.com initiated coverage on Adaptimmune Therapeutics in a research note on Friday. They issued a “buy” rating on the stock. Finally, Scotiabank reduced their price objective on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2.18.

Adaptimmune Therapeutics Trading Up 3.9 %

ADAP opened at $0.29 on Friday. Adaptimmune Therapeutics has a 52 week low of $0.26 and a 52 week high of $1.65. The business has a fifty day simple moving average of $0.54 and a 200-day simple moving average of $0.69. The firm has a market cap of $74.41 million, a P/E ratio of -1.32 and a beta of 2.52. 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 Trading of Adaptimmune Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ADAP. Two Seas Capital LP acquired a new stake in Adaptimmune Therapeutics in the fourth quarter valued at $7,992,000. Long Focus Capital Management LLC raised its stake in Adaptimmune Therapeutics by 54.1% in the fourth quarter. Long Focus Capital Management LLC now owns 20,494,393 shares of the biotechnology company’s stock valued at $11,040,000 after buying an additional 7,194,503 shares in the last quarter. Renaissance Technologies LLC raised its stake in Adaptimmune Therapeutics by 52.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,526,524 shares of the biotechnology company’s stock valued at $1,361,000 after buying an additional 869,949 shares in the last quarter. Jane Street Group LLC raised its stake in Adaptimmune Therapeutics by 87.7% in the fourth quarter. Jane Street Group LLC now owns 326,937 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 152,780 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Adaptimmune Therapeutics in the third quarter valued at $95,000. 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.