Adaptimmune Therapeutics PLC (NASDAQ:ADAP) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Adaptimmune Therapeutics PLC (NASDAQ:ADAP) have been assigned an average rating of “Reduce” from the eight brokerages that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $1.3517.

ADAP has been the topic of a number of analyst reports. HC Wainwright reiterated a “neutral” rating on shares of Adaptimmune Therapeutics in a research report on Tuesday, July 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Adaptimmune Therapeutics in a research report on Wednesday, October 8th. Finally, Guggenheim lowered Adaptimmune Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 29th.

Insider Buying and Selling at Adaptimmune Therapeutics

In other news, Director Ali Behbahani sold 14,671,794 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $0.01, for a total transaction of $146,717.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 19,803,000 shares of company stock valued at $198,030. Insiders own 12.44% of the company’s stock.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ADAP. Long Focus Capital Management LLC boosted its holdings in Adaptimmune Therapeutics by 15.9% in the first quarter. Long Focus Capital Management LLC now owns 23,756,687 shares of the biotechnology company’s stock worth $4,680,000 after acquiring an additional 3,262,294 shares in the last quarter. Two Seas Capital LP boosted its holdings in Adaptimmune Therapeutics by 10.0% in the second quarter. Two Seas Capital LP now owns 22,580,701 shares of the biotechnology company’s stock worth $5,413,000 after acquiring an additional 2,051,016 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Adaptimmune Therapeutics by 334.8% in the first quarter. Acadian Asset Management LLC now owns 2,218,215 shares of the biotechnology company’s stock worth $424,000 after acquiring an additional 1,707,999 shares in the last quarter. Empirical Finance LLC purchased a new stake in Adaptimmune Therapeutics during the 2nd quarter valued at about $192,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Adaptimmune Therapeutics during the 3rd quarter valued at about $65,000. 31.37% of the stock is owned by hedge funds and other institutional investors.

Adaptimmune Therapeutics Stock Performance

NASDAQ ADAP opened at $0.06 on Friday. Adaptimmune Therapeutics has a 52-week low of $0.04 and a 52-week high of $0.86. The company has a market capitalization of $15.35 million, a P/E ratio of -0.09 and a beta of 2.49. The company has a fifty day moving average of $0.10 and a 200-day moving average of $0.18.

Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its quarterly earnings results on Wednesday, August 13th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. Adaptimmune Therapeutics had a negative net margin of 260.82% and a negative return on equity of 163.73%. The business had revenue of $13.68 million for the quarter, compared to analysts’ expectations of $11.04 million. As a group, analysts forecast that Adaptimmune Therapeutics will post -0.14 EPS for the current fiscal year.

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.