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

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price objective lowered by stock analysts at Wells Fargo & Company from $2.00 to $1.50 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 406.76% from the stock’s previous close.

Several other research firms have also recently issued reports on ADAP. Mizuho decreased 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 began coverage on shares of Adaptimmune Therapeutics in a research note on Friday. They set a “buy” rating on the stock. Finally, Scotiabank reduced their price target on shares of Adaptimmune Therapeutics from $3.15 to $1.40 and set a “sector outperform” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Adaptimmune Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $2.18.

Adaptimmune Therapeutics Stock Performance

ADAP traded up $0.02 on Friday, hitting $0.30. 4,630,664 shares of the company’s stock were exchanged, compared to its average volume of 1,679,273. The company has a current ratio of 3.85, a quick ratio of 3.82 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average of $0.55 and a two-hundred day moving average of $0.71. Adaptimmune Therapeutics has a twelve month low of $0.26 and a twelve month high of $1.65. The firm has a market cap of $75.74 million, a PE ratio of -1.33 and a beta of 2.52.

Institutional Trading of Adaptimmune Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ADAP. Two Sigma Investments LP boosted its holdings in Adaptimmune Therapeutics by 33.5% during the fourth quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock worth $41,000 after buying an additional 19,146 shares in the last quarter. Virtu Financial LLC lifted its position in shares of Adaptimmune Therapeutics by 21.5% during the 4th 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. Invesco Ltd. boosted its stake in shares of Adaptimmune Therapeutics by 82.0% during the 4th quarter. Invesco Ltd. now owns 63,335 shares of the biotechnology company’s stock worth $34,000 after acquiring an additional 28,526 shares in the last quarter. FMR LLC grew its holdings in shares of Adaptimmune Therapeutics by 3.0% in the 3rd quarter. FMR LLC now owns 1,740,900 shares of the biotechnology company’s stock worth $1,655,000 after acquiring an additional 50,419 shares during the last quarter. Finally, Rock Springs Capital Management LP raised its position 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. 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.