Adaptimmune Therapeutics (NASDAQ:ADAP) Coverage Initiated at HC Wainwright

Investment analysts at HC Wainwright assumed coverage on shares of Adaptimmune Therapeutics (NASDAQ:ADAP) in a report released on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $4.00 price target on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 200.75% from the company’s previous close.

A number of other brokerages have also recently weighed in on ADAP. Mizuho reduced their price objective 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. StockNews.com upgraded shares of Adaptimmune Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, June 3rd. Finally, Scotiabank initiated coverage on Adaptimmune Therapeutics in a report on Thursday, May 30th. They set a “sector outperform” rating and a $3.15 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.03.

Adaptimmune Therapeutics Price Performance

Shares of NASDAQ ADAP opened at $1.33 on Tuesday. Adaptimmune Therapeutics has a 1-year low of $0.42 and a 1-year high of $2.05. The firm has a market capitalization of $328.27 million, a PE ratio of -1.80 and a beta of 2.31. The business’s fifty day moving average price is $1.09 and its two-hundred day moving average price is $1.18.

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 net margin of 890.13% and a negative return on equity of 259.68%. The business had revenue of $5.68 million during the quarter, compared to analyst estimates of $4.40 million. Equities research analysts expect that Adaptimmune Therapeutics will post -0.61 earnings per share for the current fiscal year.

Institutional Trading of Adaptimmune Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boulder Hill Capital Management LP acquired a new position in shares of Adaptimmune Therapeutics in the 1st quarter valued at $143,000. Twin Focus Capital Partners LLC acquired a new position in shares of Adaptimmune Therapeutics in the fourth quarter worth about $44,000. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Adaptimmune Therapeutics in the first quarter worth approximately $41,000. Finally, Columbia Advisory Partners LLC acquired a new stake in shares of Adaptimmune Therapeutics during the first quarter valued at approximately $25,000. 31.37% of the stock is owned by institutional investors and hedge funds.

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.