Wells Fargo Reduces Price Target for Adaptimmune Therapeutics

Wells Fargo & Company has reduced its price target for Adaptimmune Therapeutics (NASDAQ:ADAP) from $2.00 to $1.50 in a recent research note released on Friday. The firm has maintained an "equal weight" rating on the biotechnology company's shares. This revised price target suggests a potential upside of approximately 406.76% compared to the stock's current trading price.

In addition to Wells Fargo, other financial analysts have also revised their ratings and target prices for Adaptimmune. Scotiabank lowered its price target from $3.15 to $1.40 while issuing a "sector outperform" rating on the stock. Meanwhile, Mizuho adjusted its target from $3.00 to $1.50 and assigned an "outperform" rating on Wednesday, November 27th. Furthermore, StockNews.com started coverage on the stock, giving it a "buy" rating.

Currently, one analyst has given Adaptimmune a hold rating, while five analysts have issued buy ratings, indicating general optimism regarding the stock. According to MarketBeat, the average rating for the company stands at "Moderate Buy," with a consensus price target set at $2.18.

Adaptimmune Therapeutics’ Market Performance

During mid-day trading on Friday, shares of Adaptimmune Therapeutics rose by $0.02, bringing the stock to $0.30. The trading volume reached 4,630,664, significantly higher than the average volume of 1,679,273 shares. The stock is currently below its 50-day moving average of $0.55 and the 200-day moving average of $0.71. The company holds a market capitalization of $75.74 million, alongside a debt-to-equity ratio of 0.62. Adaptimmune’s price-to-earnings ratio is currently -1.33, and it has shown a 12-month price range, hitting lows of $0.26 and highs of $1.65.

Recent Institutional Investments

Several institutional investors have been active in adjusting their stakes in Adaptimmune Therapeutics. Invesco Ltd. increased its holdings by 82.0% in the fourth quarter, now owning a total of 63,335 shares valued at $34,000. Two Sigma Advisers LP also significantly raised its position in the company by 492.0% in the same quarter, owning 70,735 shares worth $38,000 after purchasing an additional 58,787 shares. Furthermore, Two Sigma Investments LP augmented its stake by 33.5%, bringing its total to 76,347 shares valued at $41,000. Another notable investor, Virtu Financial LLC, raised their ownership by 21.5%, now holding 122,696 shares worth $66,000. Lastly, GSA Capital Partners LLP made a new investment in Adaptimmune during the third quarter, valued at around $95,000. Overall, institutional and hedge fund investors collectively own about 31.37% of the company's stock.

Company Overview

Adaptimmune Therapeutics plc is a clinical-stage biopharmaceutical entity focused on developing innovative cell therapies mainly for cancer patients in the U.S. and the U.K. The company is advancing several significant clinical trials, including SPEARHEAD-1, which is in phase II testing with ADP-A2M4 for treating synovial sarcoma; SURPASS-3, a phase II trial with ADP-A2M4CD8 for patients with platinum-resistant ovarian cancer; and the SURPASS trial, which is currently in phase I for patients with head and neck and urothelial cancers.

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