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

Adaptimmune Therapeutics (NASDAQ:ADAP) had its target price reduced by research analysts at Scotiabank from $3.15 to $1.40 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the biotechnology company’s stock. Scotiabank’s price objective would suggest a potential upside of 392.96% from the company’s current price.

Other equities analysts have also issued research reports about the company. StockNews.com started coverage on Adaptimmune Therapeutics in a research note on Friday. They set a “buy” rating on the stock. Mizuho dropped their price objective on shares of Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $2.35.

Adaptimmune Therapeutics Price Performance

ADAP traded up $0.00 on Friday, hitting $0.28. 938,444 shares of the company’s stock were exchanged, compared to its average volume of 1,665,571. The firm has a 50-day moving average price of $0.55 and a 200-day moving average price of $0.71. The stock has a market cap of $72.67 million, a price-to-earnings ratio of -1.27 and a beta of 2.52. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.62. Adaptimmune Therapeutics has a fifty-two week low of $0.26 and a fifty-two week high of $1.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. increased its position in shares of Adaptimmune Therapeutics by 82.0% in the 4th quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock valued at $34,000 after purchasing an additional 28,526 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Adaptimmune Therapeutics by 492.0% during the fourth 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 in the last quarter. Two Sigma Investments LP boosted 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 buying an additional 19,146 shares in the last quarter. Virtu Financial LLC lifted its position in 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 acquiring an additional 21,688 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Adaptimmune Therapeutics during the third quarter worth about $95,000. 31.37% of the stock is currently owned by hedge funds and other 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.