BidaskClub downgraded shares of Adaptimmune Therapeutics (NASDAQ:ADAP) from a hold rating to a sell rating in a research note published on Friday morning.
Other research analysts have also recently issued reports about the company. Raymond James cut their price target on Adaptimmune Therapeutics from $20.00 to $16.00 and set a buy rating for the company in a report on Monday, October 22nd. Zacks Investment Research raised Adaptimmune Therapeutics from a hold rating to a buy rating and set a $7.75 price target for the company in a report on Wednesday, October 24th. Cowen reaffirmed a buy rating on shares of Adaptimmune Therapeutics in a report on Thursday, August 2nd. ValuEngine cut Adaptimmune Therapeutics from a strong-buy rating to a buy rating in a report on Monday, October 22nd. Finally, TheStreet cut Adaptimmune Therapeutics from a c- rating to a d+ rating in a report on Monday, July 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $15.44.
Shares of NASDAQ ADAP traded down $0.48 during midday trading on Friday, reaching $6.18. 682,929 shares of the company traded hands, compared to its average volume of 795,120. The stock has a market cap of $627.87 million, a PE ratio of -7.73 and a beta of 2.02. Adaptimmune Therapeutics has a 12 month low of $5.73 and a 12 month high of $14.63.
In related news, insider Gwendolyn Knowlt Binder-Scholl sold 25,000 shares of Adaptimmune Therapeutics 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 Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Enterprise Associates 14 New acquired 3,000,000 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was purchased at an average price of $1.67 per share, with a total value of $5,010,000.00. The disclosure for this purchase can be found here. Insiders own 26.47% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA acquired a new stake in Adaptimmune Therapeutics in the second quarter worth about $122,000. BB&T Securities LLC acquired a new stake in Adaptimmune Therapeutics in the second quarter worth about $128,000. Jane Street Group LLC acquired a new stake in Adaptimmune Therapeutics in the first quarter worth about $168,000. Trexquant Investment LP acquired a new stake in Adaptimmune Therapeutics in the second quarter worth about $178,000. Finally, Trellus Management Company LLC acquired a new stake in Adaptimmune Therapeutics in the second quarter worth about $195,000. Hedge funds and other institutional investors own 58.99% of the company’s stock.
About Adaptimmune Therapeutics
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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