ADAP - Adaptimmune slips as Barclays initiates with an underweight rating

Seeing a bigger upside from overweight-rated stocks in its coverage, Barclays has initiated Adaptimmune Therapeutics ([[ADAP]] -2.0%) with an underweight recommendation.The price target of $4.00 per share indicates a downside of ~20.8% to the previous close. After two consecutive days of gains, Adaptimmune shares are trading lower today.Despite positive views on the company’s “ability to make T cells recognize cancer cell better, the deeper pipeline and management,” the analyst Peter Lawson highlights the need for more data to allay the concerns over the possible decline of durability with MHC downregulation.The downregulation of major histocompatibility complex class I (MHC-I) is believed to be a major mechanism by which solid tumors can evade anti-tumor immunity leading to reduced recognition by CD8 T Cells.“As commercial cell therapy has yet to show meaningful traction,” the risk to the thesis from the potential M&A-driven upside in the near-term is low added Lawson.The company a developer of

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Adaptimmune slips as Barclays initiates with an underweight rating