Zacks Investment Research Upgrades Adaptimmune Therapeutics (NASDAQ:ADAP) to Strong-Buy

Zacks Investment Research upgraded shares of Adaptimmune Therapeutics (NASDAQ:ADAP) from a hold rating to a strong-buy rating in a report issued on Tuesday, Zacks.com reports. Zacks Investment Research currently has $4.00 price target on the biotechnology company’s stock.

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. “

ADAP has been the topic of several other reports. Citigroup set a $14.00 price target on shares of Coty and gave the stock a hold rating in a research note on Thursday, May 30th. ValuEngine cut shares of Yext from a strong-buy rating to a buy rating in a research note on Friday, May 10th. Roth Capital started coverage on shares of Tcr2 Therapeutics in a research note on Friday, May 31st. They set a neutral rating and a $16.00 price target on the stock. Raymond James decreased their price target on shares of Adaptimmune Therapeutics from $16.00 to $6.00 and set an outperform rating on the stock in a research note on Tuesday, May 7th. Finally, Svb Leerink lowered shares of Intersect ENT from an outperform rating to a market perform rating and cut their price objective for the stock from $41.00 to $29.00 in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $6.59.

Adaptimmune Therapeutics stock opened at $3.44 on Tuesday. Adaptimmune Therapeutics has a 12-month low of $3.20 and a 12-month high of $14.54. The firm has a market cap of $360.13 million, a PE ratio of -3.58 and a beta of 1.63. The business’s 50-day moving average price is $3.65. 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 (NASDAQ:ADAP) last released its quarterly earnings results on Monday, May 6th. The biotechnology company reported ($0.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.04. Adaptimmune Therapeutics had a negative net margin of 161.09% and a negative return on equity of 45.03%. On average, equities research analysts predict that Adaptimmune Therapeutics will post -1.17 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in ADAP. Orbimed Advisors LLC grew its position in Adaptimmune Therapeutics by 102.6% in the fourth quarter. Orbimed Advisors LLC now owns 1,350,655 shares of the biotechnology company’s stock valued at $7,766,000 after acquiring an additional 684,062 shares in the last quarter. Baillie Gifford & Co. grew its position in Adaptimmune Therapeutics by 8.2% in the fourth quarter. Baillie Gifford & Co. now owns 3,699,521 shares of the biotechnology company’s stock valued at $21,272,000 after acquiring an additional 281,894 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Adaptimmune Therapeutics in the fourth quarter valued at approximately $1,231,000. Deutsche Bank AG grew its position in Adaptimmune Therapeutics by 1,681,328.6% in the fourth quarter. Deutsche Bank AG now owns 117,700 shares of the biotechnology company’s stock valued at $676,000 after acquiring an additional 117,693 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in Adaptimmune Therapeutics in the fourth quarter valued at approximately $622,000. Institutional investors and hedge funds own 66.30% 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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