HC Wainwright Reaffirms Buy Rating for Adaptimmune Therapeutics (NASDAQ:ADAP)

HC Wainwright restated their buy rating on shares of Adaptimmune Therapeutics (NASDAQ:ADAP) in a research report sent to investors on Tuesday, Benzinga reports. HC Wainwright currently has a $4.00 target price on the biotechnology company’s stock. HC Wainwright also issued estimates for Adaptimmune Therapeutics’ Q3 2024 earnings at ($0.24) EPS, Q4 2024 earnings at ($0.12) EPS, FY2024 earnings at ($0.30) EPS, FY2025 earnings at ($0.66) EPS, FY2026 earnings at ($0.24) EPS, FY2027 earnings at $0.06 EPS and FY2028 earnings at $0.24 EPS.

Several other equities analysts have also weighed in on the stock. Mizuho cut their target price on shares of Adaptimmune Therapeutics from $9.00 to $3.00 and set a buy rating for the company in a report on Friday, May 17th. Scotiabank began coverage on shares of Adaptimmune Therapeutics in a research note on Thursday, May 30th. They set a sector outperform rating and a $3.15 target price on the stock. Finally, StockNews.com raised Adaptimmune Therapeutics from a sell rating to a hold rating in a report on Monday, June 3rd.

Adaptimmune Therapeutics Stock Performance

Shares of ADAP opened at $1.09 on Tuesday. The business’s 50-day moving average is $1.10 and its two-hundred day moving average is $1.20. The company has a market capitalization of $269.04 million, a P/E ratio of -1.47 and a beta of 2.31. 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 posted its earnings results on Wednesday, May 15th. The biotechnology company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). Adaptimmune Therapeutics had a negative return on equity of 259.68% and a negative net margin of 890.13%. The company had revenue of $5.68 million for the quarter, compared to analyst estimates of $4.40 million. Analysts forecast that Adaptimmune Therapeutics will post -0.55 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Columbia Advisory Partners LLC purchased a new position in shares of Adaptimmune Therapeutics in the first quarter valued at approximately $25,000. JTC Employer Solutions Trustee Ltd purchased a new position in Adaptimmune Therapeutics in the 1st quarter valued at $41,000. Twin Focus Capital Partners LLC acquired a new stake in Adaptimmune Therapeutics during the 4th quarter worth $44,000. Boulder Hill Capital Management LP acquired a new stake in shares of Adaptimmune Therapeutics in the first quarter valued at about $143,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Adaptimmune Therapeutics by 28.3% in the second 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 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.