Adaptimmune Therapeutics (NASDAQ:ADAP) Shares Gap Up to $1.16

Adaptimmune Therapeutics plc (NASDAQ:ADAP)’s share price gapped up before the market opened on Monday . The stock had previously closed at $1.16, but opened at $1.20. Adaptimmune Therapeutics shares last traded at $1.17, with a volume of 186,363 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on shares of Adaptimmune Therapeutics in a research note on Friday, December 29th. They set a “hold” rating for the company.

Adaptimmune Therapeutics Stock Performance

The business’s 50 day simple moving average is $1.41 and its 200-day simple moving average is $0.92. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -1.87 and a beta of 2.39.

Adaptimmune Therapeutics (NASDAQ:ADAP) last posted its earnings results on Wednesday, March 6th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.12). The firm had revenue of $0.23 million for the quarter, compared to analyst estimates of $4.80 million. Adaptimmune Therapeutics had a negative net margin of 188.90% and a negative return on equity of 155.39%. As a group, sell-side analysts expect that Adaptimmune Therapeutics plc will post -0.44 EPS for the current year.

Institutional Trading of Adaptimmune Therapeutics

A number of institutional investors have recently made changes to their positions in ADAP. Acadian Asset Management LLC acquired a new stake in shares of Adaptimmune Therapeutics in the 1st quarter worth approximately $91,000. BlackRock Inc. lifted its stake in shares of Adaptimmune Therapeutics by 13.7% in the 1st quarter. BlackRock Inc. now owns 1,330,839 shares of the biotechnology company’s stock worth $2,742,000 after acquiring an additional 160,146 shares during the period. Renaissance Technologies LLC lifted its stake in Adaptimmune Therapeutics by 124.4% during the first quarter. Renaissance Technologies LLC now owns 959,703 shares of the biotechnology company’s stock valued at $1,977,000 after purchasing an additional 532,016 shares during the last quarter. State Street Corp lifted its stake in Adaptimmune Therapeutics by 4.2% during the first quarter. State Street Corp now owns 640,620 shares of the biotechnology company’s stock valued at $1,320,000 after purchasing an additional 25,627 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Adaptimmune Therapeutics by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 359,919 shares of the biotechnology company’s stock valued at $741,000 after purchasing an additional 51,408 shares during the last quarter. 31.37% of the stock is owned by institutional investors and hedge funds.

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.