Wells Fargo Lowers Adaptimmune Therapeutics Price Target to $1.50

Wells Fargo & Company has revised its price target for Adaptimmune Therapeutics (NASDAQ:ADAP) from $2.00 down to $1.50, as noted in a research report issued to investors on Friday. This adjustment reflects the brokerage's "equal weight" rating for the biopharmaceutical firm. The new price objective suggests a potential increase of approximately 406.76% from the stock's current trading price.

In addition to Wells Fargo's update, other analysts have also reassessed their targets for Adaptimmune Therapeutics. Scotiabank has lowered its target from $3.15 to $1.40, while also maintaining a "sector outperform" rating. Meanwhile, Mizuho has set a new target of $1.50, down from $3.00, and has given an "outperform" rating according to their report from last Wednesday. Furthermore, in a recent update, StockNews.com initiated coverage of Adaptimmune Therapeutics and assigned it a "buy" rating. Currently, one analyst has rated the stock as a hold while five others have rated it as a buy. MarketBeat data indicates an average rating of "Moderate Buy" across analysts, with a consensus price target of $2.18.

Adaptimmune's Stock Performance

On Friday, shares of Adaptimmune Therapeutics rose by 5.7%, increasing by $0.02, bringing the stock price to $0.30. The trading volume reached 4,630,664 shares, significantly higher than the average volume of 1,679,273. The company's 50-day moving average is currently $0.55, and its 200-day moving average stands at $0.71. As of now, Adaptimmune Therapeutics has a market capitalization of $75.74 million, with a price-to-earnings ratio of -1.33. Over the past year, the stock has seen a low of $0.26 and a high of $1.65.

Institutional Interest in Adaptimmune

Several institutional investors have made recent transactions involving Adaptimmune Therapeutics. Invesco Ltd. raised its stake in the company by 82.0% during the fourth quarter, now holding 63,335 shares valued at around $34,000 after buying 28,526 additional shares. Additionally, Two Sigma Advisers LP increased its investment in Adaptimmune by 492.0%, acquiring 70,735 shares valued at $38,000 after purchasing an extra 58,787 shares. Two Sigma Investments LP also grew its holding by 33.5%, totaling 76,347 shares worth approximately $41,000 after adding 19,146 shares. Virtu Financial LLC raised its stake by 21.5%, owning 122,696 shares valued at $66,000 after acquiring another 21,688 shares. Lastly, GSA Capital Partners LLP invested in Adaptimmune for the first time in the third quarter, which is estimated to be valued around $95,000. Overall, institutional investors and hedge funds own 31.37% of the company's shares.

About Adaptimmune Therapeutics

Adaptimmune Therapeutics plc is a clinical-stage biopharmaceutical company focused on developing innovative cell therapies for cancer patients primarily based in the United States and the United Kingdom. The company is involved in the development of various programs, including SPEARHEAD-1, a phase II clinical trial featuring ADP-A2M4 for treating synovial sarcoma; SURPASS-3, a phase II trial with ADP-A2M4CD8 aimed at addressing cases of platinum-resistant ovarian cancer; and the SURPASS trial, which is currently in phase I and targets patients with head and neck and urothelial cancers.

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