Adaptimmune Therapeutics (NASDAQ:ADAP) Posts Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Adaptimmune Therapeutics (NASDAQ:ADAP) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.07), Morningstar.com reports. Adaptimmune Therapeutics had a negative net margin of 161.09% and a negative return on equity of 45.03%. The firm had revenue of $0.16 million during the quarter, compared to analyst estimates of $4.25 million.

NASDAQ:ADAP traded down $0.44 on Friday, reaching $2.51. 1,824,952 shares of the stock traded hands, compared to its average volume of 292,501. The stock has a market capitalization of $308.84 million, a price-to-earnings ratio of -2.61 and a beta of 1.63. The firm has a 50 day moving average of $3.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 8.55 and a quick ratio of 8.55. Adaptimmune Therapeutics has a 1-year low of $2.26 and a 1-year high of $14.54.

A number of large investors have recently added to or reduced their stakes in the business. Baillie Gifford & Co. increased its position in Adaptimmune Therapeutics by 3.8% during the 1st quarter. Baillie Gifford & Co. now owns 3,839,190 shares of the biotechnology company’s stock valued at $16,508,000 after purchasing an additional 139,669 shares during the period. BlackRock Inc. increased its position in Adaptimmune Therapeutics by 10.4% during the 4th quarter. BlackRock Inc. now owns 856,415 shares of the biotechnology company’s stock valued at $4,924,000 after purchasing an additional 81,010 shares during the period. Rathbone Brothers plc increased its position in Adaptimmune Therapeutics by 27.9% during the 1st quarter. Rathbone Brothers plc now owns 285,722 shares of the biotechnology company’s stock valued at $1,229,000 after purchasing an additional 62,292 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in Adaptimmune Therapeutics during the 4th quarter valued at approximately $1,231,000. Finally, Deutsche Bank AG increased its position in Adaptimmune Therapeutics by 1,681,328.6% during the 4th quarter. Deutsche Bank AG now owns 117,700 shares of the biotechnology company’s stock valued at $676,000 after purchasing an additional 117,693 shares during the period. 66.27% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently issued reports on ADAP. Roth Capital began coverage on Adaptimmune Therapeutics in a research note on Friday, May 31st. They issued a “buy” rating and a $7.00 price objective for the company. Zacks Investment Research raised Adaptimmune Therapeutics from a “hold” rating to a “strong-buy” rating and set a $4.00 price objective for the company in a research note on Tuesday, July 9th. Svb Leerink reaffirmed a “market perform” rating and issued a $5.00 price objective (down previously from $12.00) on shares of Adaptimmune Therapeutics in a research note on Tuesday, May 7th. Guggenheim downgraded Adaptimmune Therapeutics from a “buy” rating to a “neutral” rating in a research note on Thursday. Finally, ValuEngine raised Adaptimmune Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Adaptimmune Therapeutics currently has a consensus rating of “Buy” and an average price target of $6.59.

Adaptimmune Therapeutics Company Profile

Adaptimmune Therapeutics plc, a clinical-stage biopharmaceutical company, focuses on providing novel cell therapies primarily to patients with solid tumors in the United States. The company's specific peptide enhanced affinity receptor T-cell platform enables it to identify cancer targets. It is involved in developing ADP-A2M10 that is in the phase I clinical trials for the treatment of non-small cell lung cancer (NSCLC), as well as urothelial, melanoma, and head and neck cancers; ADP-A2M4 that is in phase I clinical trial for solid tumor indication that include urothelial, melanoma, head and neck, ovarian, NSCLC, esophageal, gastric, synovial sarcoma, and myxoid round cell liposarcoma cancers; and ADP-A2AFP that is in phase I clinical trial for hepatocellular carcinoma.

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Earnings History for Adaptimmune Therapeutics (NASDAQ:ADAP)

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