Adaptimmune Therapeutics (NASDAQ:ADAP) Now Covered by Analysts at HC Wainwright

HC Wainwright began coverage on shares of Adaptimmune Therapeutics (NASDAQ:ADAP) in a research report report published on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $4.00 price target on the biotechnology company’s stock. HC Wainwright also issued estimates for Adaptimmune Therapeutics’ Q2 2024 earnings at $0.18 EPS, Q3 2024 earnings at ($0.18) EPS, Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.36) EPS, FY2025 earnings at ($0.54) EPS, FY2026 earnings at ($0.18) EPS, FY2027 earnings at $0.12 EPS and FY2028 earnings at $0.30 EPS.

Several other brokerages have also recently commented on ADAP. Scotiabank initiated coverage on shares of Adaptimmune Therapeutics in a report on Thursday, May 30th. They set a sector outperform rating and a $3.15 target price on the stock. StockNews.com upgraded Adaptimmune Therapeutics from a sell rating to a hold rating in a research note on Monday, June 3rd. Finally, Mizuho cut their target price on Adaptimmune Therapeutics from $9.00 to $3.00 and set a buy rating for the company in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $3.03.

Adaptimmune Therapeutics Price Performance

ADAP opened at $1.17 on Tuesday. The company has a market capitalization of $288.79 million, a PE ratio of -1.58 and a beta of 2.31. The business has a fifty day simple moving average of $1.10 and a 200 day simple moving average of $1.18. Adaptimmune Therapeutics has a 1 year low of $0.42 and a 1 year high of $2.05.

Adaptimmune Therapeutics (NASDAQ:ADAP) last released its quarterly earnings results on Wednesday, May 15th. The biotechnology company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). Adaptimmune Therapeutics had a negative net margin of 890.13% and a negative return on equity of 259.68%. The business had revenue of $5.68 million during the quarter, compared to analyst estimates of $4.40 million. Equities analysts anticipate that Adaptimmune Therapeutics will post -0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Adaptimmune Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Columbia Advisory Partners LLC bought a new position in shares of Adaptimmune Therapeutics in the 1st quarter valued at $25,000. JTC Employer Solutions Trustee Ltd acquired a new stake in Adaptimmune Therapeutics in the first quarter valued at about $41,000. Twin Focus Capital Partners LLC bought a new position in Adaptimmune Therapeutics in the fourth quarter valued at about $44,000. Finally, Boulder Hill Capital Management LP acquired a new position in Adaptimmune Therapeutics during the first quarter worth about $143,000. 31.37% of the stock is currently owned by institutional investors.

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.