Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target Cut to $1.50 by Analysts at Wells Fargo & Company

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target decreased by Wells Fargo & Company from $2.00 to $1.50 in a research note published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the biotechnology company’s stock.

Several other analysts also recently commented on ADAP. StockNews.com initiated coverage on shares of Adaptimmune Therapeutics in a research report on Friday. They set a “buy” rating for the company. Scotiabank cut their target price on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating on the stock in a report on Friday. Finally, Mizuho cut their target price on Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $2.18.

Adaptimmune Therapeutics Stock Performance

Shares of ADAP stock opened at $0.29 on Friday. The company has a market cap of $74.41 million, a price-to-earnings ratio of -1.32 and a beta of 2.52. Adaptimmune Therapeutics has a 52 week low of $0.26 and a 52 week high of $1.65. 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 firm has a 50 day moving average of $0.54 and a 200-day moving average of $0.70.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Large investors have recently bought and sold shares of the stock. Invesco Ltd. lifted its stake in Adaptimmune Therapeutics by 82.0% during the 4th quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 28,526 shares in the last quarter. Two Sigma Advisers LP raised its stake 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 purchasing an additional 58,787 shares during the period. Two Sigma Investments LP raised its stake 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 purchasing an additional 19,146 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Adaptimmune Therapeutics during the 3rd quarter worth $95,000. Finally, Virtu Financial LLC raised its stake in shares of Adaptimmune Therapeutics by 27.5% during the 3rd quarter. Virtu Financial LLC now owns 101,008 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 21,769 shares during the period. 31.37% of the stock is currently owned by institutional investors.

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.