Adaptimmune Therapeutics PLC (NASDAQ:ADAP) Given Average Recommendation of “Reduce” by Brokerages

Shares of Adaptimmune Therapeutics PLC (NASDAQ:ADAP) have received a consensus rating of “Reduce” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $1.3517.

Several equities research analysts have commented on the company. HC Wainwright reiterated a “neutral” rating on shares of Adaptimmune Therapeutics in a research note 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 report on Tuesday, July 29th.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP raised its holdings in Adaptimmune Therapeutics by 491.5% in the 3rd quarter. Susquehanna International Group LLP now owns 308,065 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 255,980 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Adaptimmune Therapeutics during the 3rd quarter worth approximately $65,000. Bank of America Corp DE grew its position in shares of Adaptimmune Therapeutics by 15.6% in the third quarter. Bank of America Corp DE now owns 1,319,669 shares of the biotechnology company’s stock valued at $172,000 after purchasing an additional 177,956 shares in the last quarter. Empirical Finance LLC acquired a new stake in shares of Adaptimmune Therapeutics in the second quarter valued at approximately $192,000. Finally, Acadian Asset Management LLC increased its holdings in shares of 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 valued at $424,000 after purchasing an additional 1,707,999 shares during the last quarter. 31.37% of the stock is currently owned by institutional investors and hedge funds.

Adaptimmune Therapeutics Stock Down 10.5%

ADAP opened at $0.06 on Wednesday. The company has a market cap of $15.35 million, a PE ratio of -0.09 and a beta of 2.49. Adaptimmune Therapeutics has a twelve month low of $0.04 and a twelve month high of $0.86. The company has a 50-day moving average price of $0.10 and a 200 day moving average price of $0.16.

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.