Adaptimmune Therapeutics (NASDAQ:ADAP) Shares Gap Up to $0.80

Adaptimmune Therapeutics plc (NASDAQ:ADAP) gapped up before the market opened on Thursday . The stock had previously closed at $0.80, but opened at $0.83. Adaptimmune Therapeutics shares last traded at $0.79, with a volume of 7,753 shares changing hands.

Wall Street Analysts Forecast Growth

ADAP has been the subject of several recent research reports. Guggenheim reduced their target price on shares of Adaptimmune Therapeutics from $5.00 to $4.00 in a research note on Thursday, August 10th. StockNews.com initiated coverage on shares of Adaptimmune Therapeutics in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Barclays dropped their target price on Adaptimmune Therapeutics from $2.00 to $1.00 and set an “underweight” rating on the stock in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.10.

Adaptimmune Therapeutics Trading Down 0.4 %

The firm has a market cap of $795.67 million, a P/E ratio of -1.52 and a beta of 2.23. The stock’s fifty day moving average is $0.85 and its two-hundred day moving average is $1.08.

Adaptimmune Therapeutics (NASDAQ:ADAP) last released its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The firm had revenue of $5.13 million during the quarter, compared to the consensus estimate of $5.00 million. Adaptimmune Therapeutics had a negative return on equity of 106.99% and a negative net margin of 128.63%. On average, analysts forecast that Adaptimmune Therapeutics plc will post -0.52 EPS for the current year.

Insider Buying and Selling

In other Adaptimmune Therapeutics news, Director Garry E. Menzel sold 47,702 shares of Adaptimmune Therapeutics stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $0.91, for a total transaction of $43,408.82. Following the completion of the sale, the director now directly owns 75,056 shares in the company, valued at $68,300.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 55,534 shares of company stock worth $50,247. Insiders own 17.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in Adaptimmune Therapeutics by 5.9% during the first quarter. State Street Corp now owns 284,741 shares of the biotechnology company’s stock worth $310,000 after purchasing an additional 15,943 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Adaptimmune Therapeutics by 56.4% in 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. UBS Group AG grew its position 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 valued at $34,000 after acquiring an additional 21,641 shares during the last quarter. Morgan Stanley raised its stake in shares of Adaptimmune Therapeutics by 1.0% during the fourth quarter. Morgan Stanley now owns 2,289,848 shares of the biotechnology company’s stock worth $3,343,000 after acquiring an additional 22,082 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Adaptimmune Therapeutics in the 4th quarter worth approximately $33,000. Institutional investors own 14.55% of the company’s stock.

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.