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.
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.
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