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

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective cut by equities researchers at Guggenheim from $4.00 to $3.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Guggenheim’s price target would indicate a potential upside of 411.42% from the company’s previous close.

ADAP has been the topic of several other reports. StockNews.com lowered Adaptimmune Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday. HC Wainwright cut their target price on shares of Adaptimmune Therapeutics from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Thursday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Adaptimmune Therapeutics has a consensus rating of “Buy” and a consensus target price of $3.16.

Adaptimmune Therapeutics Stock Performance

NASDAQ ADAP opened at $0.59 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.09 and a quick ratio of 3.09. Adaptimmune Therapeutics has a 1-year low of $0.42 and a 1-year high of $2.05. The business’s 50-day simple moving average is $0.88 and its 200-day simple moving average is $1.03. The firm has a market capitalization of $150.02 million, a P/E ratio of -2.67 and a beta of 2.26.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADAP. Boulder Hill Capital Management LP acquired a new stake in shares of Adaptimmune Therapeutics during the first quarter worth $143,000. Renaissance Technologies LLC boosted its stake in Adaptimmune Therapeutics by 28.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,786,341 shares of the biotechnology company’s stock worth $1,742,000 after purchasing an additional 394,566 shares during the period. Long Focus Capital Management LLC grew its position in Adaptimmune Therapeutics by 15.6% during 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. Vontobel Holding Ltd. grew its holdings in shares of Adaptimmune Therapeutics by 230.8% during the third quarter. Vontobel Holding Ltd. now owns 43,000 shares of the biotechnology company’s stock valued at $41,000 after buying an additional 30,000 shares in the last quarter. Finally, Fullcircle Wealth LLC acquired a new position in shares of Adaptimmune Therapeutics in the 3rd quarter valued at about $33,000. 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.