Adaptimmune Therapeutics plc (NASDAQ:ADAP) Sees Large Decrease in Short Interest

Adaptimmune Therapeutics plc (NASDAQ:ADAP) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 5,560,000 shares, a decline of 8.7% from the September 30th total of 6,090,000 shares. Based on an average daily trading volume, of 1,580,000 shares, the days-to-cover ratio is currently 3.5 days.

Adaptimmune Therapeutics Stock Performance

ADAP stock opened at $0.73 on Friday. The company has a 50-day simple moving average of $0.99 and a 200 day simple moving average of $1.06. The company has a market capitalization of $179.10 million, a P/E ratio of -0.98 and a beta of 2.20. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.26. Adaptimmune Therapeutics has a fifty-two week low of $0.42 and a fifty-two week high of $2.05.

Adaptimmune Therapeutics (NASDAQ:ADAP) last released its earnings results on Monday, August 12th. The biotechnology company reported $0.27 earnings per share for the quarter. Adaptimmune Therapeutics had a negative return on equity of 116.80% and a negative net margin of 51.25%. The firm had revenue of $128.23 million during the quarter, compared to the consensus estimate of $58.00 million. Sell-side analysts predict that Adaptimmune Therapeutics will post -0.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ADAP. HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Adaptimmune Therapeutics in a research report on Tuesday, August 13th. StockNews.com upgraded shares of Adaptimmune Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th.

Institutional Trading of Adaptimmune Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fullcircle Wealth LLC acquired a new position in shares of Adaptimmune Therapeutics in the 3rd quarter worth $33,000. Vontobel Holding Ltd. boosted its position in shares of Adaptimmune Therapeutics by 230.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 43,000 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 30,000 shares during the period. Long Focus Capital Management LLC increased its stake in Adaptimmune Therapeutics by 15.6% in 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 in the last quarter. Renaissance Technologies LLC raised 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 worth $1,742,000 after buying an additional 394,566 shares during the period. Finally, Boulder Hill Capital Management LP acquired a new stake in Adaptimmune Therapeutics during the 1st quarter worth about $143,000. 31.37% of the stock is 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.