Adaptimmune Therapeutics Plc ADR (NASDAQ: ADAP): Decline Of -112.77% Looks Weak With A Stock Forecast 2024

In today’s recent session, 0.57 million shares of the Adaptimmune Therapeutics Plc ADR (NASDAQ:ADAP) have been traded, and its beta is 2.39. Most recently the company’s share price was $1.41, and it changed around -$0.06 or -4.31% from the last close, which brings the market valuation of the company to $319.56M. ADAP at last check was trading at a discount to its 52-week high of $2.05, offering almost -45.39% off that amount. The share price’s 52-week low was $0.42, which indicates that the recent value has risen by an impressive 70.21% since then. We note from Adaptimmune Therapeutics Plc ADR’s average daily trading volume that its 10-day average is 1.45 million shares, with the 3-month average coming to 1.88 million.

Adaptimmune Therapeutics Plc ADR stock received a consensus recommendation rating of Buy, based on a mean score of 2.14. If we narrow it down even further, the data shows that 1 out of 8 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended ADAP as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Adaptimmune Therapeutics Plc ADR is expected to report earnings per share of -$0.1 for the current quarter.

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Adaptimmune Therapeutics Plc ADR (NASDAQ:ADAP) trade information

Instantly ADAP has been showing red trend so far today with a performance of -4.31% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently up 77.39% year-to-date, but still down -2.31% over the last five days. On the other hand, Adaptimmune Therapeutics Plc ADR (NASDAQ:ADAP) is -11.53% down in the 30-day period. We can see from the shorts that 3.11 million shares have been sold at a short interest cover period of 1.55 day(s).

The consensus price target as assigned by Wall Street analysts is $3, which translates to bulls needing to increase their stock price by 53.0% from its current value. Analyst projections state that ADAP is forecast to be at a low of $3 and a high of $3.

Adaptimmune Therapeutics Plc ADR (ADAP) estimates and forecasts

Adaptimmune Therapeutics Plc ADR share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 80.35 percent over the past six months and at a 30.16% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -1,100.00% in revenue this quarter, and will report an increase of 50.00% in the next quarter. The year-over-year growth rate is expected to be 16.20%, up from the previous year.

Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $5.63 million in revenue for the current quarter. 7 analysts expect Adaptimmune Therapeutics Plc ADR to make $22.97 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $47.6 million and $5.13 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -88.20%. Forecasts for the next quarter put sales growth at 347.80%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 10.30%. Adaptimmune Therapeutics Plc ADR earnings are expected to increase by -327.78% in 2024, but the outlook is positive 1.00% per year for the next five years.

ADAP Dividends

Adaptimmune Therapeutics Plc ADR’s next quarterly earnings report is expected to be released on March 06.

Adaptimmune Therapeutics Plc ADR (NASDAQ:ADAP)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.21% of Adaptimmune Therapeutics Plc ADR shares, and 70.02% of them are in the hands of institutional investors. The stock currently has a share float of 70.16%. Adaptimmune Therapeutics Plc ADR stock is held by 93 institutions, with Matrix Capital Management being the largest institutional investor. By Jun 29, 2023, it held 25.20% of the shares, which is about 38.97 million shares worth $36.05 million.

Baillie Gifford and Company, with 11.11% or 17.18 million shares worth $15.89 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Old Westbury Small & Mid Cap Strategies Fund and iShares NASDAQ Biotechnology ETF were the top two Mutual Funds as of Jul 30, 2023. The former held 2.4 million shares worth $2.26 million, making up 1.55% of all outstanding shares. On the other hand, iShares NASDAQ Biotechnology ETF held roughly 0.84 million shares worth around $0.66 million, which represents about 0.55% of the total shares outstanding.