Adaptimmune Therapeutics (ADAP) Price Target Cut to $6.00 by Analysts at Raymond James

Adaptimmune Therapeutics (NASDAQ:ADAP) had its target price reduced by Raymond James from $16.00 to $6.00 in a report published on Tuesday, May 7th, The Fly reports. They currently have an outperform rating on the biotechnology company’s stock.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Adaptimmune Therapeutics from a hold rating to a buy rating and set a $5.75 price objective for the company in a report on Monday, February 4th. BidaskClub downgraded shares of Adaptimmune Therapeutics from a sell rating to a strong sell rating in a report on Tuesday, March 26th. Finally, Svb Leerink reaffirmed a market perform rating and set a $5.00 price target (down previously from $12.00) on shares of Adaptimmune Therapeutics in a report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $6.81.

ADAP stock traded up $0.06 during midday trading on Tuesday, hitting $3.46. The company’s stock had a trading volume of 267,867 shares, compared to its average volume of 309,891. The firm has a market capitalization of $338.15 million, a P/E ratio of -3.60 and a beta of 1.35. Adaptimmune Therapeutics has a twelve month low of $3.20 and a twelve month high of $14.54. The company has a current ratio of 8.55, a quick ratio of 8.55 and a debt-to-equity ratio of 0.12.

Adaptimmune Therapeutics (NASDAQ:ADAP) last released its quarterly earnings data on Monday, May 6th. The biotechnology company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.04. Adaptimmune Therapeutics had a negative net margin of 161.09% and a negative return on equity of 45.03%. As a group, equities research analysts forecast that Adaptimmune Therapeutics will post -1.2 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Adaptimmune Therapeutics by 1.6% in the third quarter. BlackRock Inc. now owns 775,405 shares of the biotechnology company’s stock valued at $10,514,000 after buying an additional 12,113 shares during the period. SG Americas Securities LLC lifted its stake in shares of Adaptimmune Therapeutics by 157.3% in the fourth quarter. SG Americas Securities LLC now owns 20,004 shares of the biotechnology company’s stock valued at $115,000 after buying an additional 12,229 shares during the period. Virtus ETF Advisers LLC lifted its stake in shares of Adaptimmune Therapeutics by 54.8% in the fourth quarter. Virtus ETF Advisers LLC now owns 58,223 shares of the biotechnology company’s stock valued at $335,000 after buying an additional 20,620 shares during the period. Henry James International Management Inc. bought a new stake in shares of Adaptimmune Therapeutics in the fourth quarter valued at about $144,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Adaptimmune Therapeutics in the fourth quarter valued at about $219,000. Institutional investors and hedge funds own 66.30% of the company’s stock.

Adaptimmune Therapeutics Company Profile

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, focuses on providing novel cell therapies primarily to patients with solid tumors in the United States. The company's specific peptide enhanced affinity receptor T-cell platform enables it to identify cancer targets. It is involved in developing ADP-A2M10 that is in the phase I clinical trials for the treatment of non-small cell lung cancer (NSCLC), as well as urothelial, melanoma, and head and neck cancers; ADP-A2M4 that is in phase I clinical trial for solid tumor indication that include urothelial, melanoma, head and neck, ovarian, NSCLC, esophageal, gastric, synovial sarcoma, and myxoid round cell liposarcoma cancers; and ADP-A2AFP that is in phase I clinical trial for hepatocellular carcinoma.

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