Adaptimmune Therapeutics (NASDAQ:ADAP) Shares Down 2.1%

Shares of Adaptimmune Therapeutics plc (NASDAQ:ADAP) dropped 2.1% on Tuesday . The company traded as low as $1.41 and last traded at $1.41. Approximately 62,343 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 1,897,795 shares. The stock had previously closed at $1.44.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on Adaptimmune Therapeutics in a report on Friday, December 29th. They set a “hold” rating for the company.

Adaptimmune Therapeutics Price Performance

The business’s 50-day simple moving average is $1.28 and its two-hundred day simple moving average is $0.86. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -2.87 and a beta of 2.40.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Several large investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new position in shares of Adaptimmune Therapeutics during the first quarter worth $91,000. BlackRock Inc. grew its position 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 valued at $2,742,000 after buying an additional 160,146 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Adaptimmune Therapeutics by 124.4% in the first quarter. Renaissance Technologies LLC now owns 959,703 shares of the biotechnology company’s stock valued at $1,977,000 after buying an additional 532,016 shares during the period. State Street Corp raised its position in shares of Adaptimmune Therapeutics by 4.2% during the first quarter. State Street Corp now owns 640,620 shares of the biotechnology company’s stock worth $1,320,000 after acquiring an additional 25,627 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Adaptimmune Therapeutics by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 359,919 shares of the biotechnology company’s stock worth $741,000 after acquiring an additional 51,408 shares during the period. 31.37% of the stock is currently owned by institutional investors.

Adaptimmune Therapeutics Company Profile

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.