Guggenheim Cuts Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target to $1.75

Adaptimmune Therapeutics (NASDAQ:ADAP) had its target price reduced by Guggenheim from $3.00 to $1.75 in a research report released on Wednesday morning,Benzinga reports. Guggenheim currently has a buy rating on the biotechnology company’s stock.

A number of other analysts also recently issued reports on ADAP. 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, March 21st. StockNews.com began coverage on shares of Adaptimmune Therapeutics in a research report on Friday, March 21st. They issued a “buy” rating on the stock. Wells Fargo & Company lowered their price objective on shares of Adaptimmune Therapeutics from $2.00 to $1.50 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Finally, Mizuho cut their target price on Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1.93.

Adaptimmune Therapeutics Price Performance

Shares of NASDAQ:ADAP opened at $0.21 on Wednesday. The firm has a market cap of $52.71 million, a price-to-earnings ratio of -0.94 and a beta of 2.52. The firm has a fifty day moving average price of $0.51 and a 200 day moving average price of $0.67. Adaptimmune Therapeutics has a fifty-two week low of $0.20 and a fifty-two week high of $1.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.82 and a current ratio of 3.85.

Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its quarterly earnings data on Monday, March 24th. The biotechnology company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $3.22 million for the quarter, compared to analysts’ expectations of $16.56 million. As a group, sell-side analysts expect that Adaptimmune Therapeutics will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Large investors have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in shares of Adaptimmune Therapeutics by 3.0% during the third quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock valued at $1,655,000 after acquiring an additional 50,419 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Adaptimmune Therapeutics by 130.4% during the third 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 during the period. Virtu Financial LLC raised its holdings in shares of Adaptimmune Therapeutics by 27.5% in the third quarter. Virtu Financial LLC now owns 101,008 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 21,769 shares in the last quarter. LPL Financial LLC lifted its stake in Adaptimmune Therapeutics by 106.5% in the fourth quarter. LPL Financial LLC now owns 183,479 shares of the biotechnology company’s stock worth $99,000 after acquiring an additional 94,623 shares during the period. Finally, Invesco Ltd. grew its holdings in Adaptimmune Therapeutics by 82.0% during the 4th quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 28,526 shares in the last quarter. 31.37% of the stock is owned by hedge funds and other institutional investors.

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.