JonesTrading analyst Soumit Roy has maintained their neutral stance on ADAP stock, giving a Hold rating on March 25.
Soumit Roy has given his Hold rating due to a combination of factors impacting Adaptimmune Therapeutics. The company is currently navigating financial challenges, including capital overhang and the need for strategic partnerships or financial strategies to stabilize its position. Despite these hurdles, Adaptimmune is making progress with its product Tecelra, with plans to commercialize it and initiate a rolling BLA submission for lete-cel in 2025.
Additionally, while there are positive developments such as the absence of capacity constraints and a high success rate in manufacturing, the company faces uncertainties related to loan repayment and market conditions. The management’s concerns about their ability to maintain operations further contribute to the cautious outlook. Until these financial uncertainties are resolved, the recommendation remains at Hold to reflect the need for more clarity on the company’s future financial health.
In another report released on March 25, Leerink Partners also reiterated a Hold rating on the stock with a $2.00 price target.