Weiss Ratings Reiterates Sell (E+) Rating for Adaptimmune Therapeutics (NASDAQ:ADAP)

Adaptimmune Therapeutics (NASDAQ:ADAP)‘s stock had its “sell (e+)” rating restated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other analysts have also weighed in on ADAP. Guggenheim lowered Adaptimmune Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 29th. HC Wainwright restated a “neutral” rating on shares of Adaptimmune Therapeutics in a report on Tuesday, July 29th. Finally, Mizuho lowered Adaptimmune Therapeutics from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $1.50 to $0.50 in a report on Thursday, June 26th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $1.35.

Adaptimmune Therapeutics Price Performance

Shares of ADAP opened at $0.22 on Wednesday. The stock has a market capitalization of $58.34 million, a price-to-earnings ratio of -0.34 and a beta of 2.49. Adaptimmune Therapeutics has a 1 year low of $0.04 and a 1 year high of $0.91. The business’s 50 day simple moving average is $0.09 and its 200-day simple moving average is $0.20.

Adaptimmune Therapeutics (NASDAQ:ADAP) last issued its quarterly earnings data on Wednesday, August 13th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.04. The business had revenue of $13.68 million for the quarter, compared to analysts’ expectations of $11.04 million. Adaptimmune Therapeutics had a negative return on equity of 163.73% and a negative net margin of 260.82%. On average, sell-side analysts expect that Adaptimmune Therapeutics will post -0.14 earnings per share for the current year.

Insider Buying and Selling

In other Adaptimmune Therapeutics news, Director Ali Behbahani sold 14,671,794 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $0.01, for a total value of $146,717.94. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 19,803,000 shares of company stock valued at $198,030. Corporate insiders own 12.74% of the company’s stock.

Hedge Funds Weigh In On Adaptimmune Therapeutics

Several hedge funds have recently bought and sold shares of ADAP. Two Sigma Investments LP grew its position in Adaptimmune Therapeutics by 33.5% in the 4th quarter. Two Sigma Investments LP now owns 76,347 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 19,146 shares during the last quarter. Long Focus Capital Management LLC grew its position in shares of Adaptimmune Therapeutics by 15.9% during the 1st quarter. Long Focus Capital Management LLC now owns 23,756,687 shares of the biotechnology company’s stock worth $4,680,000 after buying an additional 3,262,294 shares in the last quarter. Two Seas Capital LP grew its position in shares of Adaptimmune Therapeutics by 38.4% during the 1st quarter. Two Seas Capital LP now owns 20,529,685 shares of the biotechnology company’s stock worth $4,044,000 after buying an additional 5,694,539 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Adaptimmune Therapeutics by 334.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,218,215 shares of the biotechnology company’s stock worth $424,000 after buying an additional 1,707,999 shares in the last quarter. Finally, Empirical Finance LLC bought a new position in shares of Adaptimmune Therapeutics during the 2nd quarter worth $192,000. Institutional investors own 31.37% of the company’s stock.

Adaptimmune Therapeutics Company Profile

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.