Adaptimmune Therapeutics (ADAP) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of Adaptimmune Therapeutics (NASDAQ:ADAP) from a hold rating to a sell rating in a report published on Friday morning.

Several other equities analysts also recently commented on the company. Zacks Investment Research downgraded Adaptimmune Therapeutics from a buy rating to a hold rating in a report on Thursday. ValuEngine downgraded shares of Adaptimmune Therapeutics from a buy rating to a hold rating in a research note on Tuesday. Cowen restated a buy rating on shares of Adaptimmune Therapeutics in a research note on Tuesday. Raymond James lowered their price objective on shares of Adaptimmune Therapeutics from $20.00 to $16.00 and set a buy rating on the stock in a research note on Monday, October 22nd. Finally, Guggenheim started coverage on shares of Adaptimmune Therapeutics in a research note on Monday, September 17th. They issued a buy rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Adaptimmune Therapeutics presently has an average rating of Buy and a consensus target price of $15.44.

ADAP stock traded down $0.48 during midday trading on Friday, hitting $6.18. 682,929 shares of the company traded hands, compared to its average volume of 795,120. Adaptimmune Therapeutics has a twelve month low of $5.73 and a twelve month high of $14.63. The company has a market cap of $627.87 million, a PE ratio of -7.73 and a beta of 2.02.

Adaptimmune Therapeutics (NASDAQ:ADAP) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.09. Adaptimmune Therapeutics had a negative return on equity of 41.63% and a negative net margin of 139.57%. The company had revenue of $40.79 million for the quarter, compared to the consensus estimate of $29.41 million. On average, sell-side analysts expect that Adaptimmune Therapeutics will post -0.98 earnings per share for the current fiscal year.

In other news, Director Ali Behbahani bought 12,000,000 shares of Adaptimmune Therapeutics stock in a transaction that occurred on Friday, September 7th. The stock was purchased at an average cost of $1.67 per share, with a total value of $20,040,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gwendolyn Knowlt Binder-Scholl sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $10.25, for a total value of $256,250.00. The disclosure for this sale can be found here. Company insiders own 26.47% of the company’s stock.

A number of hedge funds have recently modified their holdings of ADAP. BlackRock Inc. lifted its position in Adaptimmune Therapeutics by 2.5% in the first quarter. BlackRock Inc. now owns 806,952 shares of the biotechnology company’s stock worth $9,062,000 after purchasing an additional 19,765 shares during the period. Jane Street Group LLC bought a new position in Adaptimmune Therapeutics in the first quarter worth $168,000. Atria Investments LLC bought a new position in Adaptimmune Therapeutics in the second quarter worth $221,000. Baillie Gifford & Co. lifted its position in Adaptimmune Therapeutics by 18.2% in the second quarter. Baillie Gifford & Co. now owns 3,033,261 shares of the biotechnology company’s stock worth $36,005,000 after purchasing an additional 467,852 shares during the period. Finally, Fred Alger Management Inc. bought a new position in Adaptimmune Therapeutics in the second quarter worth $297,000. 58.99% of the stock is owned by hedge funds and other institutional investors.

Adaptimmune Therapeutics Company Profile

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, focuses on the provision of cancer immunotherapy products based on its proprietary Specific Peptide Enhanced Affinity Receptor (SPEAR) T-cell platform. Its platform enables in identifying cancer targets; finding and genetically engineering T-cell receptors (TCR); and producing TCR therapeutic candidates for administration to patients.

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Analyst Recommendations for Adaptimmune Therapeutics (NASDAQ:ADAP)

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