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

Zacks Investment Research upgraded shares of Adaptimmune Therapeutics PLC (NASDAQ:ADAP) from a hold rating to a buy rating in a research note issued to investors on Wednesday, July 12th. Zacks Investment Research currently has $5.25 target price 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. “

Other equities analysts have also recently issued reports about the stock. Cowen and Company restated a buy rating on shares of Adaptimmune Therapeutics PLC in a research report on Tuesday, June 6th. BidaskClub upgraded shares of Adaptimmune Therapeutics PLC from a strong sell rating to a sell rating in a research report on Saturday, July 8th. Finally, Wells Fargo & Company began coverage on shares of Adaptimmune Therapeutics PLC in a research report on Friday, March 17th. They issued a market perform rating for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $12.08.

Shares of Adaptimmune Therapeutics PLC (NASDAQ:ADAP) traded down 0.20% on Wednesday, hitting $5.11. The company’s stock had a trading volume of 242,669 shares. The stock’s 50 day moving average price is $5.20 and its 200 day moving average price is $4.95. The stock’s market capitalization is $477.88 million. Adaptimmune Therapeutics PLC has a 52 week low of $3.76 and a 52 week high of $8.36.

Adaptimmune Therapeutics PLC (NASDAQ:ADAP) last issued its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.24) EPS for the quarter, meeting the consensus estimate of ($0.24). The company had revenue of $3.52 million during the quarter, compared to analysts’ expectations of $5.43 million. Adaptimmune Therapeutics PLC had a negative net margin of 438.00% and a negative return on equity of 38.73%. On average, analysts forecast that Adaptimmune Therapeutics PLC will post ($1.05) earnings per share for the current fiscal year.

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Large investors have recently bought and sold shares of the stock. AXA purchased a new stake in Adaptimmune Therapeutics PLC during the first quarter worth approximately $4,959,000. Renaissance Technologies LLC raised its position in shares of Adaptimmune Therapeutics PLC by 35.4% in the fourth quarter. Renaissance Technologies LLC now owns 445,100 shares of the biotechnology company’s stock valued at $1,803,000 after buying an additional 116,400 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Adaptimmune Therapeutics PLC during the first quarter valued at about $2,883,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Adaptimmune Therapeutics PLC during the first quarter valued at about $120,000. Finally, Creative Planning raised its position in shares of Adaptimmune Therapeutics PLC by 32.8% in the first quarter. Creative Planning now owns 40,500 shares of the biotechnology company’s stock valued at $223,000 after buying an additional 10,000 shares in the last quarter. 56.37% of the stock is currently owned by institutional investors.

About Adaptimmune Therapeutics PLC

Adaptimmune Therapeutics plc is a clinical-stage biopharmaceutical company. The Company is focused on cancer immunotherapy products based on its Specific Peptide Enhanced Affinity Receptor (SPEAR) T-cell platform. The Company has developed a platform that enables it to identify cancer targets, find and genetically engineer TCR, and produce TCR therapeutic candidates for administration to patients.

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