Adaptimmune Therapeutics (ADAP) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Adaptimmune Therapeutics (NASDAQ:ADAP) from a buy rating to a hold rating in a report published on Thursday morning.

According to Zacks, “Adaptimmune Therapeutics plc is a biopharmaceutical company. The Company is focused on cancer immunotherapy products based on T-cell receptor platform. Adaptimmune Therapeutics plc is based in Abingdon, United Kingdom. “

A number of other research firms have also recently commented on ADAP. BidaskClub upgraded Adaptimmune Therapeutics from a hold rating to a buy rating in a research report on Saturday, September 29th. TheStreet cut Adaptimmune Therapeutics from a c- rating to a d+ rating in a research report on Monday, July 16th. Cowen reiterated a buy rating on shares of Adaptimmune Therapeutics in a research report on Wednesday, July 18th. Guggenheim began coverage on Adaptimmune Therapeutics in a research report on Monday, September 17th. They set a buy rating for the company. Finally, Raymond James dropped their price objective on Adaptimmune Therapeutics from $20.00 to $16.00 and set a buy rating for the company in a research report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $15.44.

Shares of ADAP stock traded down $0.48 during mid-day trading on Thursday, reaching $6.18. The stock had a trading volume of 682,929 shares, compared to its average volume of 523,246. Adaptimmune Therapeutics has a 12-month low of $5.73 and a 12-month high of $14.63. The stock has a market cap of $616.54 million, a P/E 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 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.09. The business had revenue of $40.79 million during the quarter, compared to analysts’ expectations of $29.41 million. Adaptimmune Therapeutics had a negative return on equity of 46.63% and a negative net margin of 139.57%. Analysts forecast that Adaptimmune Therapeutics will post -0.98 EPS for the current year.

In other Adaptimmune Therapeutics news, insider Gwendolyn Knowlt Binder-Scholl sold 25,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $13.79, for a total value of $344,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ali Behbahani purchased 12,000,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was acquired at an average cost of $1.67 per share, for a total transaction of $20,040,000.00. The disclosure for this purchase can be found here. Company insiders own 26.47% of the company’s stock.

Large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA acquired a new stake in Adaptimmune Therapeutics in the 2nd quarter worth about $122,000. BB&T Securities LLC acquired a new stake in Adaptimmune Therapeutics in the 2nd quarter worth about $128,000. Jane Street Group LLC acquired a new stake in Adaptimmune Therapeutics in the 1st quarter worth about $168,000. Trexquant Investment LP acquired a new stake in Adaptimmune Therapeutics in the 2nd quarter worth about $178,000. Finally, Trellus Management Company LLC acquired a new stake in Adaptimmune Therapeutics in the 2nd quarter worth about $195,000. 58.99% of the stock is currently 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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