Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Crosses Below 50-Day Moving Average – Time to Sell?

Shares of Adaptimmune Therapeutics plc (NASDAQ:ADAP) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $0.66 and traded as low as $0.59. Adaptimmune Therapeutics shares last traded at $0.62, with a volume of 1,456,842 shares changing hands.

Analyst Ratings Changes

Several brokerages have weighed in on ADAP. Guggenheim lowered their target price on Adaptimmune Therapeutics from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Mizuho reduced their target price on shares of Adaptimmune Therapeutics from $3.00 to $1.50 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. HC Wainwright cut their price target on shares of Adaptimmune Therapeutics from $4.00 to $3.50 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, StockNews.com downgraded shares of Adaptimmune Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $2.79.

Adaptimmune Therapeutics Price Performance

The stock has a market capitalization of $158.62 million, a PE ratio of -2.82 and a beta of 2.24. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.82 and a current ratio of 3.85. The company’s fifty day simple moving average is $0.66 and its two-hundred day simple moving average is $0.92.

Institutional Trading of Adaptimmune Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC raised its position in shares of Adaptimmune Therapeutics by 27.5% in the third quarter. Virtu Financial LLC now owns 101,008 shares of the biotechnology company’s stock valued at $96,000 after buying an additional 21,769 shares during the last quarter. Jane Street Group LLC raised its stake in Adaptimmune Therapeutics by 130.4% during the third quarter. Jane Street Group LLC now owns 174,157 shares of the biotechnology company’s stock worth $166,000 after purchasing an additional 98,581 shares during the period. FMR LLC boosted 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 valued at $1,655,000 after purchasing an additional 50,419 shares during the last quarter. Baillie Gifford & Co. grew its stake in shares of Adaptimmune Therapeutics by 10.7% during the 3rd quarter. Baillie Gifford & Co. now owns 16,775,860 shares of the biotechnology company’s stock valued at $15,944,000 after buying an additional 1,626,657 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Adaptimmune Therapeutics during the 3rd quarter worth $95,000. 31.37% of the stock is currently owned by hedge funds and other 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.