Adaptimmune Therapeutics (NASDAQ:ADAP) Cut to “Sell” at BidaskClub
A number of other brokerages have also issued reports on ADAP. Citigroup lowered their target price on shares of Adaptimmune Therapeutics from $8.00 to $5.00 and set a buy rating for the company in a research note on Monday, April 27th. SVB Leerink lowered their price objective on shares of Adaptimmune Therapeutics from $11.00 to $10.00 and set a market perform rating for the company in a research note on Thursday, August 6th. Zacks Investment Research lowered shares of Adaptimmune Therapeutics from a buy rating to a hold rating in a research note on Friday, July 31st. Finally, Mizuho upped their price objective on shares of Adaptimmune Therapeutics from $3.00 to $9.00 and gave the stock a neutral rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $8.31.
Shares of ADAP opened at $7.91 on Tuesday. The firm has a market capitalization of $1.08 billion, a P/E ratio of -7.00 and a beta of 2.33. Adaptimmune Therapeutics has a 12-month low of $0.71 and a 12-month high of $13.40. The firm has a fifty day moving average price of $9.09 and a 200-day moving average price of $5.92.
In related news, Director James Noble sold 500,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $9.33, for a total value of $4,665,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Lunger sold 4,823 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $9.25, for a total transaction of $44,612.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 507,611 shares of company stock valued at $4,735,402. 18.89% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Morgan Stanley raised its holdings in Adaptimmune Therapeutics by 10.8% in the first quarter. Morgan Stanley now owns 28,645 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 2,782 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Adaptimmune Therapeutics by 332.6% in the second quarter. Lindbrook Capital LLC now owns 4,058 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 3,120 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Adaptimmune Therapeutics by 5,820.4% in the first quarter. Tower Research Capital LLC TRC now owns 9,591 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 9,429 shares in the last quarter. Squarepoint Ops LLC bought a new position in Adaptimmune Therapeutics in the first quarter worth about $34,000. Finally, Invesco Ltd. bought a new position in Adaptimmune Therapeutics in the first quarter worth about $47,000. Institutional investors and hedge funds own 72.13% of the company’s stock.
About Adaptimmune Therapeutics
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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