Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $10.57.

A number of equities analysts have commented on ADPT shares. Morgan Stanley raised their price objective on Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Craig Hallum initiated coverage on shares of Adaptive Biotechnologies in a report on Wednesday, June 18th. They issued a “buy” rating and a $15.00 price objective for the company. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 target price (up from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. Finally, The Goldman Sachs Group increased their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, May 2nd.

Adaptive Biotechnologies Stock Performance

Shares of ADPT stock opened at $10.39 on Friday. Adaptive Biotechnologies has a 52 week low of $3.85 and a 52 week high of $12.43. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -10.82 and a beta of 1.83. The company has a 50-day simple moving average of $10.40 and a 200 day simple moving average of $8.66.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 74.84% and a negative return on equity of 62.79%. The firm had revenue of $52.44 million during the quarter, compared to the consensus estimate of $42.13 million. During the same period last year, the business posted ($0.33) earnings per share. The business’s revenue for the quarter was up 25.2% compared to the same quarter last year. Sell-side analysts forecast that Adaptive Biotechnologies will post -0.92 EPS for the current year.

Insider Transactions at Adaptive Biotechnologies

In other news, insider Harlan S. Robins sold 68,412 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $7.35, for a total transaction of $502,828.20. Following the completion of the sale, the insider owned 1,279,524 shares in the company, valued at $9,404,501.40. The trade was a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fox Run Management L.L.C. increased its position in shares of Adaptive Biotechnologies by 8.2% during the first quarter. Fox Run Management L.L.C. now owns 21,565 shares of the company’s stock valued at $160,000 after acquiring an additional 1,631 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Adaptive Biotechnologies by 2.7% in the 4th quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company’s stock valued at $486,000 after purchasing an additional 2,163 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Adaptive Biotechnologies by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company’s stock valued at $395,000 after purchasing an additional 2,625 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Adaptive Biotechnologies by 3.8% during the 1st quarter. D.A. Davidson & CO. now owns 91,850 shares of the company’s stock worth $682,000 after purchasing an additional 3,400 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Adaptive Biotechnologies by 36.5% in the 1st quarter. GAMMA Investing LLC now owns 13,393 shares of the company’s stock worth $100,000 after buying an additional 3,583 shares during the last quarter. 99.17% of the stock is owned by institutional investors.

About Adaptive Biotechnologies

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.