Adaptive Biotechnologies Co. (NASDAQ:ADPT) Given Consensus Rating of “Buy” by Analysts

Adaptive Biotechnologies Co. (NASDAQ:ADPT – Get Rating) has earned an average recommendation of “Buy” from the eight analysts that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $29.80.

ADPT has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Adaptive Biotechnologies from $75.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, February 16th. Zacks Investment Research upgraded shares of Adaptive Biotechnologies from a “sell” rating to a “hold” rating in a report on Wednesday, May 4th. Bank of America dropped their target price on shares of Adaptive Biotechnologies from $40.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. BTIG Research dropped their target price on shares of Adaptive Biotechnologies from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, February 16th. Finally, The Goldman Sachs Group dropped their price target on shares of Adaptive Biotechnologies from $14.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday.

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 14,815 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $12.46, for a total value of $184,594.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Julie Rubinstein sold 4,613 shares of Adaptive Biotechnologies stock in a transaction on Monday, March 7th. The shares were sold at an average price of $12.01, for a total transaction of $55,402.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,869 shares of company stock worth $366,357. 34.70% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Neuberger Berman Group LLC increased its holdings in shares of Adaptive Biotechnologies by 2.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,253,728 shares of the company’s stock worth $76,537,000 after buying an additional 51,843 shares during the last quarter. TD Asset Management Inc. increased its holdings in shares of Adaptive Biotechnologies by 50.1% in the 4th quarter. TD Asset Management Inc. now owns 180,072 shares of the company’s stock worth $5,053,000 after buying an additional 60,100 shares during the last quarter. Trillium Asset Management LLC increased its holdings in shares of Adaptive Biotechnologies by 3.8% in the 4th quarter. Trillium Asset Management LLC now owns 41,425 shares of the company’s stock worth $1,162,000 after buying an additional 1,499 shares during the last quarter. Moore Capital Management LP increased its holdings in shares of Adaptive Biotechnologies by 26.3% in the 3rd quarter. Moore Capital Management LP now owns 102,322 shares of the company’s stock worth $3,478,000 after buying an additional 21,312 shares during the last quarter. Finally, Aristotle Atlantic Partners LLC increased its holdings in shares of Adaptive Biotechnologies by 1.3% in the 3rd quarter. Aristotle Atlantic Partners LLC now owns 727,334 shares of the company’s stock worth $24,722,000 after buying an additional 9,684 shares during the last quarter. Hedge funds and other institutional investors own 88.10% of the company’s stock.

Shares of ADPT traded up $0.47 on Friday, hitting $8.04. 15,384 shares of the stock traded hands, compared to its average volume of 1,363,016. The company has a market capitalization of $1.14 billion, a PE ratio of -5.01 and a beta of 1.07. The business has a 50 day simple moving average of $10.29 and a 200 day simple moving average of $17.43. Adaptive Biotechnologies has a one year low of $6.20 and a one year high of $43.40.

Adaptive Biotechnologies (NASDAQ:ADPT – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.01. The company had revenue of $38.62 million during the quarter, compared to the consensus estimate of $37.71 million. Adaptive Biotechnologies had a negative net margin of 148.44% and a negative return on equity of 36.67%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.29) earnings per share. On average, equities research analysts forecast that Adaptive Biotechnologies will post -1.67 earnings per share for the current year.

About Adaptive Biotechnologies (Get Rating)

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunoSEQ, a platform and core immunosequencing product that is used to answer translational research questions, as well as to discover new prognostic and diagnostic signals; and T-Detect COVID for the confirmation of past COVID-19 infection.

Featured Stories