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

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective cut by stock analysts at HC Wainwright from $4.00 to $3.50 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 483.24% from the company’s current price.

Separately, StockNews.com raised shares of Adaptimmune Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th.

Adaptimmune Therapeutics Stock Down 22.1 %

NASDAQ ADAP traded down $0.17 during trading hours on Thursday, reaching $0.60. 8,011,994 shares of the company traded hands, compared to its average volume of 1,660,012. The stock has a market capitalization of $153.47 million, a PE ratio of -1.72 and a beta of 2.26. The company has a 50 day moving average of $0.90 and a two-hundred day moving average of $1.04. Adaptimmune Therapeutics has a 12 month low of $0.42 and a 12 month high of $2.05. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.26.

Adaptimmune Therapeutics (NASDAQ:ADAP) last released its quarterly earnings results on Monday, August 12th. The biotechnology company reported $0.27 EPS for the quarter. Adaptimmune Therapeutics had a negative net margin of 51.25% and a negative return on equity of 116.80%. The company had revenue of $128.23 million for the quarter, compared to analyst estimates of $58.00 million. As a group, equities analysts expect that Adaptimmune Therapeutics will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Several hedge funds have recently made changes to their positions in the company. Fullcircle Wealth LLC purchased a new stake in Adaptimmune Therapeutics in the 3rd quarter valued at approximately $33,000. Vontobel Holding Ltd. raised its stake 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 in the last quarter. GSA Capital Partners LLP bought a new position in shares of Adaptimmune Therapeutics in the third quarter valued at approximately $95,000. Boulder Hill Capital Management LP acquired a new stake in Adaptimmune Therapeutics during the first quarter valued at approximately $143,000. Finally, FMR LLC lifted its position in Adaptimmune Therapeutics by 3.0% in the 3rd quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock worth $1,655,000 after buying an additional 50,419 shares in the last quarter. Hedge funds and other institutional investors own 31.37% of the company’s stock.

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.