Adaptimmune Therapeutics (NASDAQ:ADAP) Given New $1.40 Price Target at Scotiabank

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

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

Adaptimmune Therapeutics Stock Performance

ADAP opened at $0.29 on Friday. The business has a fifty day simple moving average of $0.54 and a 200 day simple moving average of $0.70. The company has a market capitalization of $74.41 million, a PE ratio of -1.32 and a beta of 2.52. Adaptimmune Therapeutics has a 1 year low of $0.26 and a 1 year high of $1.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.85 and a quick ratio of 3.82.

Hedge Funds Weigh In On Adaptimmune Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP increased its holdings in Adaptimmune Therapeutics by 33.5% in the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 19,146 shares in the last quarter. Virtu Financial LLC increased its stake in shares of Adaptimmune Therapeutics by 21.5% in the fourth quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company’s stock valued at $66,000 after buying an additional 21,688 shares during the period. Invesco Ltd. increased its stake in shares of Adaptimmune Therapeutics by 82.0% in the fourth quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 28,526 shares during the period. FMR LLC increased its stake in shares of Adaptimmune Therapeutics by 3.0% in the third quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock valued at $1,655,000 after buying an additional 50,419 shares during the period. Finally, Rock Springs Capital Management LP increased its stake in shares of Adaptimmune Therapeutics by 2.4% in the fourth quarter. Rock Springs Capital Management LP now owns 2,483,468 shares of the biotechnology company’s stock valued at $1,338,000 after buying an additional 58,000 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.