Adaptimmune Therapeutics (NASDAQ:ADAP) Downgraded to “Neutral” Rating by Mizuho

Adaptimmune Therapeutics (NASDAQ:ADAP) was downgraded by Mizuho from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday,Finviz reports. They currently have a $0.50 price target on the biotechnology company’s stock. Mizuho’s target price would suggest a potential upside of 97.63% from the company’s previous close.

ADAP has been the subject of several other research reports. Barclays dropped their price target on shares of Adaptimmune Therapeutics from $1.00 to $0.46 and set an “underweight” rating for the company in a research report on Wednesday, May 14th. Scotiabank lowered their target price on Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating for the company in a research note on Friday, March 21st. Guggenheim cut their price target on Adaptimmune Therapeutics from $3.00 to $1.75 and set a “buy” rating on the stock in a research note on Wednesday, March 26th. Jones Trading downgraded Adaptimmune Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, April 11th. Finally, HC Wainwright dropped their price objective on Adaptimmune Therapeutics from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $1.35.

Adaptimmune Therapeutics Stock Performance

NASDAQ ADAP opened at $0.25 on Thursday. The business has a 50 day moving average price of $0.27 and a 200 day moving average price of $0.42. The company has a market capitalization of $67.06 million, a P/E ratio of -0.94 and a beta of 2.24. Adaptimmune Therapeutics has a 1-year low of $0.20 and a 1-year high of $1.48. The company has a debt-to-equity ratio of 4.24, a current ratio of 2.02 and a quick ratio of 1.79.

Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.18). The business had revenue of $7.29 million for the quarter, compared to the consensus estimate of $6.55 million. Adaptimmune Therapeutics had a negative return on equity of 163.73% and a negative net margin of 38.91%. Sell-side analysts expect that Adaptimmune Therapeutics will post -0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Two Sigma Investments LP increased its holdings in shares of Adaptimmune Therapeutics by 33.5% in the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 19,146 shares during the last quarter. Virtu Financial LLC increased its stake in Adaptimmune Therapeutics by 21.5% during the fourth quarter. Virtu Financial LLC now owns 122,696 shares of the biotechnology company’s stock valued at $66,000 after purchasing an additional 21,688 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Adaptimmune Therapeutics by 82.0% during the fourth quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock worth $34,000 after purchasing an additional 28,526 shares during the period. Rock Springs Capital Management LP raised its holdings in shares of Adaptimmune Therapeutics by 2.4% during the fourth quarter. Rock Springs Capital Management LP now owns 2,483,468 shares of the biotechnology company’s stock worth $1,338,000 after purchasing an additional 58,000 shares during the period. Finally, Two Sigma Advisers LP lifted its position in shares of Adaptimmune Therapeutics by 492.0% in the 4th quarter. Two Sigma Advisers LP now owns 70,735 shares of the biotechnology company’s stock worth $38,000 after buying an additional 58,787 shares during the last quarter. Institutional investors own 31.37% of the company’s stock.

Adaptimmune Therapeutics Company Profile

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.