Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target Cut to $1.40 by Analysts at Scotiabank

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective reduced by Scotiabank from $3.15 to $1.40 in a research report sent to investors on Friday,Benzinga reports. Scotiabank currently has a sector outperform rating on the biotechnology company’s stock.

Other equities research analysts have also issued research reports about the company. StockNews.com assumed coverage on Adaptimmune Therapeutics in a research report on Friday. They issued a “buy” rating on the stock. Mizuho lowered their price target on Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $2.18.

Adaptimmune Therapeutics Stock Up 3.9 %

Shares of Adaptimmune Therapeutics stock opened at $0.29 on Friday. The business’s 50 day simple moving average is $0.54 and its 200 day simple moving average is $0.70. Adaptimmune Therapeutics has a 52-week low of $0.26 and a 52-week high of $1.65. The firm has a market cap of $74.41 million, a PE ratio of -1.32 and a beta of 2.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.82 and a current ratio of 3.85.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Two Seas Capital LP acquired a new position in shares of Adaptimmune Therapeutics during the 4th quarter worth approximately $7,992,000. Two Sigma Investments LP increased its holdings in shares of Adaptimmune Therapeutics by 33.5% during the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 19,146 shares during the last quarter. Two Sigma Advisers LP increased its holdings in shares of Adaptimmune Therapeutics by 492.0% during the 4th quarter. Two Sigma Advisers LP now owns 70,735 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 58,787 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Adaptimmune Therapeutics by 87.7% during the 4th quarter. Jane Street Group LLC now owns 326,937 shares of the biotechnology company’s stock worth $176,000 after acquiring an additional 152,780 shares during the last quarter. Finally, Long Focus Capital Management LLC increased its holdings in shares of 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 worth $11,040,000 after acquiring an additional 7,194,503 shares during the last quarter. 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.