Adaptimmune Therapeutics PLC – (NASDAQ:ADAP) Sees Large Decrease in Short Interest

Adaptimmune Therapeutics PLC – (NASDAQ:ADAP) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 2,410,000 shares, a decrease of 18.9% from the September 30th total of 2,970,000 shares. Approximately 2.8% of the company’s stock are short sold. Based on an average trading volume of 316,700 shares, the days-to-cover ratio is presently 7.6 days.

Several large investors have recently modified their holdings of the stock. Baillie Gifford & Co. lifted its holdings in Adaptimmune Therapeutics by 7.9% during the second quarter. Baillie Gifford & Co. now owns 4,143,840 shares of the biotechnology company’s stock valued at $16,658,000 after purchasing an additional 304,650 shares during the last quarter. Man Group plc lifted its holdings in Adaptimmune Therapeutics by 37.4% during the second quarter. Man Group plc now owns 1,839,225 shares of the biotechnology company’s stock valued at $7,394,000 after purchasing an additional 500,595 shares during the last quarter. Rock Springs Capital Management LP lifted its holdings in Adaptimmune Therapeutics by 9.4% during the second quarter. Rock Springs Capital Management LP now owns 875,000 shares of the biotechnology company’s stock valued at $3,518,000 after purchasing an additional 75,000 shares during the last quarter. Rathbone Brothers plc lifted its holdings in Adaptimmune Therapeutics by 146.6% during the second quarter. Rathbone Brothers plc now owns 704,472 shares of the biotechnology company’s stock valued at $2,832,000 after purchasing an additional 418,750 shares during the last quarter. Finally, Bamco Inc. NY lifted its holdings in Adaptimmune Therapeutics by 6.1% during the second quarter. Bamco Inc. NY now owns 172,669 shares of the biotechnology company’s stock valued at $694,000 after purchasing an additional 10,000 shares during the last quarter. 65.06% of the stock is currently owned by institutional investors.

ADAP has been the subject of several recent analyst reports. BidaskClub lowered shares of Adaptimmune Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Guggenheim lowered shares of Adaptimmune Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday, August 1st. Cowen reiterated a “buy” rating on shares of Adaptimmune Therapeutics in a research note on Thursday, November 7th. ValuEngine lowered shares of Adaptimmune Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Zacks Investment Research lowered shares of Adaptimmune Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.59.

Shares of NASDAQ:ADAP opened at $0.85 on Thursday. The company’s 50-day moving average is $1.09 and its 200 day moving average is $2.57. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.93 and a current ratio of 3.93. The company has a market capitalization of $92.57 million, a P/E ratio of -0.89 and a beta of 1.70. Adaptimmune Therapeutics has a fifty-two week low of $0.80 and a fifty-two week high of $6.55.

Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its quarterly earnings results on Wednesday, November 6th. The biotechnology company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.03). The company had revenue of $0.24 million for the quarter, compared to the consensus estimate of $7.00 million. As a group, research analysts predict that Adaptimmune Therapeutics will post -1.36 earnings per share for the current year.

About Adaptimmune Therapeutics

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, focuses on providing novel cell therapies primarily to patients with solid tumors in the United States. The company's specific peptide enhanced affinity receptor T-cell platform enables it to identify cancer targets. It is involved in developing ADP-A2M10 that is in the phase I clinical trials for the treatment of non-small cell lung cancer (NSCLC), as well as urothelial, melanoma, and head and neck cancers; ADP-A2M4 that is in phase I clinical trial for solid tumor indication that include urothelial, melanoma, head and neck, ovarian, NSCLC, esophageal, gastric, synovial sarcoma, and myxoid round cell liposarcoma cancers; and ADP-A2AFP that is in phase I clinical trial for hepatocellular carcinoma.

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