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

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target reduced by stock analysts at Guggenheim from $3.00 to $1.75 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock.

ADAP has been the subject of several other research reports. StockNews.com assumed coverage on shares of Adaptimmune Therapeutics in a report on Friday, March 21st. They set a “buy” rating for the company. Mizuho dropped their price target 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. Wells Fargo & Company reduced their price objective on Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Finally, Scotiabank lowered their target price on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating for the company in a research report on Friday, March 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Adaptimmune Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $1.93.

Adaptimmune Therapeutics Stock Down 4.4 %

Shares of ADAP opened at $0.22 on Wednesday. The business’s 50 day moving average is $0.51 and its 200 day moving average is $0.68. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.62. Adaptimmune Therapeutics has a 12-month low of $0.22 and a 12-month high of $1.65. The company has a market capitalization of $56.29 million, a PE ratio of -1.00 and a beta of 2.52.

Adaptimmune Therapeutics (NASDAQ:ADAP) last released its quarterly earnings data on Monday, March 24th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.09). Adaptimmune Therapeutics had a negative net margin of 25.43% and a negative return on equity of 74.15%. The company had revenue of $3.22 million for the quarter, compared to the consensus estimate of $16.56 million. Research analysts expect that Adaptimmune Therapeutics will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised 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 acquiring an additional 28,526 shares during the period. Two Sigma Advisers LP raised 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 worth $38,000 after purchasing an additional 58,787 shares during the period. Two Sigma Investments LP lifted its stake in Adaptimmune Therapeutics by 33.5% in the fourth quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 19,146 shares during the last quarter. Virtu Financial LLC boosted 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 valued at $66,000 after buying an additional 21,688 shares during the period. Finally, LPL Financial LLC grew its stake in shares of Adaptimmune Therapeutics by 106.5% during the fourth quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 94,623 shares during the last quarter. 31.37% of the stock is currently owned by hedge funds and other institutional investors.

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.