The stock of Adaptimmune Therapeutics plc (NASDAQ:ADAP) is now priced at $7.92 and the shares are -0.22 points down or -2.7% lower compared to its previous closing price of $8.14. ADAP shares have a float of 11.2 million and although its performance was -6.05% over the week, it’s one to watch. Analysts have given the ADAP stock a yearly average price target of $12.67 per share. It means the stock’s upside potential is 59.97% with the ADAP share price recently placing at $7.52 to $8.78. However, some brokerage firms have priced the stock below the average, including one that has called $9.
The shorts are climbing into the Adaptimmune Therapeutics plc stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the ADAP shares have risen. Short interest in the stock represents just 35.7% of its float, but the volume has raised by 104655. The volume of shorted shares rised to 3.999 million from 3.894 million shares over the last two weeks. The average intraday trading volume has been 675593 shares, which means that days to cover moved to roughly 5.918599.
In the last trading session, Adaptimmune Therapeutics plc (NASDAQ:ADAP) dropped by -$0.51 over the week and lost -$1.43 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $13.4. The stock recorded its established 52-week high on 06/01/20.
Since 11/15/19, the stock has traded to a low of $0.71 at 1017.07%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.05. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Adaptimmune Therapeutics plc’s two-week RSI is 39.41. This suggests that the stock is neutral at the moment and that ADAP shares’ price movement remains stable. The stochastic readings are equally revealing at 35.88% meaning the ADAP share price is currently in neutral territory.
The technical chart shows that the ADAP stock will likely settle at between $8.63 and $9.33 per share. However, if the stock dips below $7.37, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $6.81.
Currently, the stock is trading in the red of MACD, with a reading of -0.34. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned ADAP a rating of Neutral in their intiating review released on April 22. Guggenheim analysts downgraded their recommendation of the stock from Buy to Neutral in a flash note released to investors on August 02. ROTH Capital analysts see the stock as Buy when the analysts initiated the share price coverage on May 31.
The average rating for the ADAP equity is 2.38 and is currently gathering a bullish momentum. Of 8 analysts tracking Adaptimmune Therapeutics plc polled by Reuters, 4 rated ADAP as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.