Adaptimmune Therapeutics (ADAP) Shares Up -1.1% on Earnings Beat

Adaptimmune Therapeutics (NASDAQ:ADAP) shares shot up 1.1% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $14.20 and last traded at $13.87. 17,150 shares changed hands during trading, a decline of 96% from the average session volume of 407,960 shares. The stock had previously closed at $14.03.

The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.04). The company had revenue of $4.27 million for the quarter, compared to analysts’ expectations of $9.38 million. Adaptimmune Therapeutics had a negative net margin of 160.83% and a negative return on equity of 31.49%.

A number of brokerages have issued reports on ADAP. SunTrust Banks lifted their price objective on Adaptimmune Therapeutics to $18.00 and gave the company a “buy” rating in a research note on Thursday. Cowen reiterated a “buy” rating on shares of Adaptimmune Therapeutics in a research note on Wednesday. Raymond James set a $20.00 price objective on Adaptimmune Therapeutics and gave the company a “buy” rating in a research note on Wednesday. BidaskClub upgraded Adaptimmune Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 17th. Finally, ValuEngine upgraded Adaptimmune Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $15.69.

In other Adaptimmune Therapeutics news, CFO Adrian Rawcliffe sold 600,000 shares of Adaptimmune Therapeutics stock in a transaction on Tuesday, March 20th. The stock was sold at an average price of $1.71, for a total transaction of $1,026,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Orbimed Advisors Llc sold 1,048,067 shares of Adaptimmune Therapeutics stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $11.50, for a total value of $12,052,770.50. The disclosure for this sale can be found here. Insiders have acquired 9,385,254 shares of company stock valued at $17,966,655 in the last quarter. 24.45% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of ADAP. NEA Management Company LLC raised its stake in shares of Adaptimmune Therapeutics by 10.9% in the first quarter. NEA Management Company LLC now owns 13,332,611 shares of the biotechnology company’s stock worth $149,725,000 after purchasing an additional 1,306,612 shares during the last quarter. BlackRock Inc. raised its stake in shares of Adaptimmune Therapeutics by 43,632.6% in the fourth quarter. BlackRock Inc. now owns 787,187 shares of the biotechnology company’s stock worth $5,258,000 after purchasing an additional 785,387 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Adaptimmune Therapeutics by 33.6% in the first quarter. Baillie Gifford & Co. now owns 2,565,409 shares of the biotechnology company’s stock worth $28,810,000 after purchasing an additional 644,816 shares during the last quarter. Millennium Management LLC raised its stake in shares of Adaptimmune Therapeutics by 36.5% in the fourth quarter. Millennium Management LLC now owns 805,595 shares of the biotechnology company’s stock worth $5,381,000 after purchasing an additional 215,439 shares during the last quarter. Finally, Artal Group S.A. raised its stake in shares of Adaptimmune Therapeutics by 40.0% in the fourth quarter. Artal Group S.A. now owns 700,000 shares of the biotechnology company’s stock worth $4,676,000 after purchasing an additional 200,000 shares during the last quarter. Hedge funds and other institutional investors own 55.89% of the company’s stock.

The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -16.44 and a beta of 1.17.

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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