Adaptimmune Therapeutics (NASDAQ:ADAP) Stock Price Down 4.8%

Adaptimmune Therapeutics plc (NASDAQ:ADAP) shares were down 4.8% during mid-day trading on Tuesday . The stock traded as low as $1.00 and last traded at $1.00. Approximately 507,917 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 1,785,425 shares. The stock had previously closed at $1.05.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Adaptimmune Therapeutics in a research note on Friday, December 29th. They issued a “hold” rating on the stock.

Adaptimmune Therapeutics Stock Down 4.2 %

The business has a 50-day moving average price of $1.41 and a two-hundred day moving average price of $0.92. The company has a market capitalization of $981.29 million, a price-to-earnings ratio of -1.79 and a beta of 2.39.

Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its earnings results on Wednesday, March 6th. The biotechnology company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.12). Adaptimmune Therapeutics had a negative return on equity of 155.39% and a negative net margin of 188.90%. The firm had revenue of $0.23 million for the quarter, compared to analyst estimates of $4.80 million. On average, sell-side analysts anticipate that Adaptimmune Therapeutics plc will post -0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Adaptimmune Therapeutics

A number of institutional investors have recently modified their holdings of the company. Columbia Advisory Partners LLC bought a new stake in Adaptimmune Therapeutics during the first quarter worth $25,000. Two Sigma Investments LP bought a new stake in Adaptimmune Therapeutics during the fourth quarter worth $33,000. UBS Group AG grew its holdings in Adaptimmune Therapeutics by 1,090.8% during the fourth quarter. UBS Group AG now owns 23,625 shares of the biotechnology company’s stock worth $34,000 after buying an additional 21,641 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Adaptimmune Therapeutics by 56.4% during the second quarter. Goldman Sachs Group Inc. now owns 48,077 shares of the biotechnology company’s stock worth $44,000 after buying an additional 17,332 shares in the last quarter. Finally, Twin Focus Capital Partners LLC bought a new stake in Adaptimmune Therapeutics during the fourth quarter worth $44,000. 31.37% of the stock is owned by institutional investors and hedge funds.

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.