Adaptimmune Therapeutics (NASDAQ:ADAP) released its quarterly earnings results on Tuesday. The biotechnology company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.09, Fidelity Earnings reports. The firm had revenue of $40.79 million during the quarter, compared to analyst estimates of $29.41 million. Adaptimmune Therapeutics had a negative net margin of 191.14% and a negative return on equity of 47.22%.
Shares of NASDAQ ADAP traded up $0.12 during mid-day trading on Wednesday, reaching $6.65. 681,508 shares of the company were exchanged, compared to its average volume of 523,444. Adaptimmune Therapeutics has a 52 week low of $5.73 and a 52 week high of $14.63. The company has a market capitalization of $669.41 million, a P/E ratio of -8.31 and a beta of 2.02.
In related news, Director Ali Behbahani acquired 12,000,000 shares of the company’s stock in a transaction dated Friday, September 7th. The stock was bought at an average cost of $1.67 per share, with a total value of $20,040,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gwendolyn Knowlt Binder-Scholl sold 25,000 shares of Adaptimmune Therapeutics stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $10.25, for a total transaction of $256,250.00. The disclosure for this sale can be found here. Insiders own 26.47% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Stanley Laman Group Ltd. bought a new stake in Adaptimmune Therapeutics in the third quarter worth $7,665,000. Frontier Capital Management Co. LLC lifted its stake in Adaptimmune Therapeutics by 351.1% in the third quarter. Frontier Capital Management Co. LLC now owns 698,694 shares of the biotechnology company’s stock worth $9,474,000 after purchasing an additional 543,809 shares during the last quarter. Creative Planning lifted its stake in Adaptimmune Therapeutics by 17.5% in the third quarter. Creative Planning now owns 120,900 shares of the biotechnology company’s stock worth $1,639,000 after purchasing an additional 18,000 shares during the last quarter. California Public Employees Retirement System bought a new stake in Adaptimmune Therapeutics in the second quarter worth $449,000. Finally, Tocqueville Asset Management L.P. bought a new stake in Adaptimmune Therapeutics in the second quarter worth $311,000. 58.99% of the stock is owned by institutional investors.
A number of research firms have recently commented on ADAP. BidaskClub upgraded shares of Adaptimmune Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, September 29th. TheStreet lowered shares of Adaptimmune Therapeutics from a “c-” rating to a “d+” rating in a research report on Monday, July 16th. Zacks Investment Research lowered shares of Adaptimmune Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Cowen restated a “buy” rating on shares of Adaptimmune Therapeutics in a research report on Wednesday, July 18th. Finally, Guggenheim initiated coverage on shares of Adaptimmune Therapeutics in a report on Monday, September 17th. They set a “buy” rating for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Adaptimmune Therapeutics has an average rating of “Buy” and an average target price of $15.44.
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Adaptimmune Therapeutics Company Profile
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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