Guggenheim Cuts Adaptimmune Therapeutics (NASDAQ:ADAP) Price Target to $3.00

Adaptimmune Therapeutics (NASDAQ:ADAP) had its price target cut by Guggenheim from $4.00 to $3.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

ADAP has been the topic of several other research reports. StockNews.com lowered Adaptimmune Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday. HC Wainwright lowered their price target on Adaptimmune Therapeutics from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Thursday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Adaptimmune Therapeutics currently has an average rating of “Buy” and an average price target of $3.16.

Adaptimmune Therapeutics Price Performance

NASDAQ:ADAP remained flat at $0.59 during midday trading on Friday. 5,185,940 shares of the company traded hands, compared to its average volume of 1,705,188. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.09 and a current ratio of 3.09. The company’s fifty day simple moving average is $0.88 and its 200 day simple moving average is $1.03. Adaptimmune Therapeutics has a one year low of $0.42 and a one year high of $2.05. The company has a market capitalization of $150.02 million, a price-to-earnings ratio of -2.67 and a beta of 2.26.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ADAP. Boulder Hill Capital Management LP acquired a new stake in Adaptimmune Therapeutics during the 1st quarter worth approximately $143,000. Renaissance Technologies LLC grew its stake in shares of Adaptimmune Therapeutics by 28.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,786,341 shares of the biotechnology company’s stock valued at $1,742,000 after purchasing an additional 394,566 shares during the last quarter. Long Focus Capital Management LLC boosted its holdings in Adaptimmune Therapeutics by 15.6% in the 2nd quarter. Long Focus Capital Management LLC now owns 12,346,417 shares of the biotechnology company’s stock valued at $12,037,000 after purchasing an additional 1,662,184 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Adaptimmune Therapeutics by 230.8% in the 3rd quarter. Vontobel Holding Ltd. now owns 43,000 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 30,000 shares in the last quarter. Finally, Fullcircle Wealth LLC acquired a new stake in shares of Adaptimmune Therapeutics in the third quarter valued at approximately $33,000. 31.37% of the stock is currently owned by institutional investors and hedge funds.

Adaptimmune Therapeutics Company Profile

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.