Adaptimmune Therapeutics (NASDAQ:ADAP) Given New $1.50 Price Target at Wells Fargo & Company

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective trimmed by Wells Fargo & Company from $2.00 to $1.50 in a report released on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the biotechnology company’s stock.

ADAP has been the subject of a number of other research reports. Mizuho dropped their target price on shares of Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Scotiabank dropped their target price on shares of Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating for the company in a report on Friday. Finally, StockNews.com initiated coverage on shares of Adaptimmune Therapeutics in a report on Friday. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.18.

Adaptimmune Therapeutics Trading Up 3.9 %

ADAP opened at $0.29 on Friday. Adaptimmune Therapeutics has a twelve month low of $0.26 and a twelve month high of $1.65. The company has a 50-day simple moving average of $0.54 and a 200 day simple moving average of $0.70. The company has a quick ratio of 3.82, a current ratio of 3.85 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $74.41 million, a price-to-earnings ratio of -1.32 and a beta of 2.52.

Institutional Trading of Adaptimmune Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Long Focus Capital Management LLC increased its position in Adaptimmune Therapeutics by 54.1% during the 4th quarter. Long Focus Capital Management LLC now owns 20,494,393 shares of the biotechnology company’s stock valued at $11,040,000 after purchasing an additional 7,194,503 shares during the period. Two Seas Capital LP acquired a new stake in Adaptimmune Therapeutics during the 4th quarter valued at approximately $7,992,000. Renaissance Technologies LLC increased its position in Adaptimmune Therapeutics by 52.5% during the 4th quarter. Renaissance Technologies LLC now owns 2,526,524 shares of the biotechnology company’s stock valued at $1,361,000 after purchasing an additional 869,949 shares during the period. Rock Springs Capital Management LP increased its position in Adaptimmune Therapeutics by 2.4% during the 4th quarter. Rock Springs Capital Management LP now owns 2,483,468 shares of the biotechnology company’s stock valued at $1,338,000 after purchasing an additional 58,000 shares during the period. Finally, FMR LLC increased its position in Adaptimmune Therapeutics by 3.0% during the 3rd quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock valued at $1,655,000 after purchasing an additional 50,419 shares during the period. Institutional investors and hedge funds 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.