Adaptimmune Therapeutics (ADAP) Rating Lowered to Hold at BidaskClub

Adaptimmune Therapeutics (NASDAQ:ADAP) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other brokerages also recently issued reports on ADAP. ValuEngine raised Adaptimmune Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 2nd. TheStreet downgraded Adaptimmune Therapeutics from a “c-” rating to a “d+” rating in a research note on Monday, July 16th. Zacks Investment Research downgraded Adaptimmune Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. Cowen reaffirmed a “buy” rating on shares of Adaptimmune Therapeutics in a research note on Wednesday, July 18th. Finally, Guggenheim started coverage on Adaptimmune Therapeutics in a research note on Monday, September 17th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Adaptimmune Therapeutics presently has an average rating of “Buy” and a consensus price target of $19.33.

ADAP traded down $0.12 on Wednesday, hitting $10.76. 2,020 shares of the company’s stock traded hands, compared to its average volume of 445,319. The company has a market capitalization of $1.09 billion, a PE ratio of -13.54 and a beta of 1.07. Adaptimmune Therapeutics has a one year low of $6.60 and a one year high of $14.63.

Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.20). The business had revenue of $9.04 million for the quarter, compared to the consensus estimate of $7.76 million. Adaptimmune Therapeutics had a negative net margin of 191.14% and a negative return on equity of 47.22%. On average, equities research analysts predict that Adaptimmune Therapeutics will post -1.02 EPS for the current year.

In other news, Director Ali Behbahani acquired 12,000,000 shares of Adaptimmune Therapeutics stock in a transaction on Friday, September 7th. The shares were acquired at an average price of $1.67 per share, with a total value of $20,040,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gwendolyn Knowlt Binder-Scholl sold 25,000 shares of Adaptimmune Therapeutics stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $13.79, for a total value of $344,750.00. The disclosure for this sale can be found here. Insiders own 26.47% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in shares of Adaptimmune Therapeutics by 83.4% during the 1st quarter. Millennium Management LLC now owns 1,477,641 shares of the biotechnology company’s stock valued at $16,594,000 after purchasing an additional 672,046 shares during the last quarter. Dorsey Wright & Associates bought a new position in shares of Adaptimmune Therapeutics during the 2nd quarter valued at approximately $6,981,000. Baillie Gifford & Co. increased its position in shares of Adaptimmune Therapeutics by 18.2% during the 2nd quarter. Baillie Gifford & Co. now owns 3,033,261 shares of the biotechnology company’s stock valued at $36,005,000 after purchasing an additional 467,852 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Adaptimmune Therapeutics by 786.0% during the 1st quarter. JPMorgan Chase & Co. now owns 185,660 shares of the biotechnology company’s stock valued at $2,085,000 after purchasing an additional 164,704 shares during the last quarter. Finally, Frontier Capital Management Co. LLC bought a new position in shares of Adaptimmune Therapeutics during the 2nd quarter valued at approximately $1,838,000. 59.32% of the stock is currently owned by institutional investors and hedge funds.

About Adaptimmune Therapeutics

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, focuses on the provision of cancer immunotherapy products based on its proprietary Specific Peptide Enhanced Affinity Receptor (SPEAR) T-cell platform. Its platform enables in identifying cancer targets; finding and genetically engineering T-cell receptors (TCR); and producing TCR therapeutic candidates for administration to patients.

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Analyst Recommendations for Adaptimmune Therapeutics (NASDAQ:ADAP)

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