Adaptive Biotechnologies (NASDAQ:ADPT) Upgraded at Wall Street Zen

Adaptive Biotechnologies (NASDAQ:ADPT) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities analysts also recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, October 8th. Piper Sandler boosted their price objective on Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. TD Cowen upped their price objective on Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. raised their target price on Adaptive Biotechnologies from $17.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Guggenheim initiated coverage on Adaptive Biotechnologies in a research note on Tuesday, September 30th. They set a “buy” rating and a $20.00 target price on the stock. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.78.

Adaptive Biotechnologies Stock Down 4.9%

Adaptive Biotechnologies stock opened at $14.79 on Friday. The firm’s fifty day moving average is $14.86 and its 200 day moving average is $12.04. The company has a market capitalization of $2.25 billion, a PE ratio of -18.04 and a beta of 2.09. Adaptive Biotechnologies has a 12-month low of $4.27 and a 12-month high of $17.89.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. The firm had revenue of $93.97 million during the quarter, compared to the consensus estimate of $58.76 million. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The company’s quarterly revenue was up 102.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.22) earnings per share. Sell-side analysts expect that Adaptive Biotechnologies will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Affinity Wealth Management LLC bought a new position in shares of Adaptive Biotechnologies in the 3rd quarter worth $4,541,000. Caprock Group LLC purchased a new position in shares of Adaptive Biotechnologies during the third quarter valued at about $163,000. Essex Investment Management Co. LLC raised its position in shares of Adaptive Biotechnologies by 3.4% in the 3rd quarter. Essex Investment Management Co. LLC now owns 638,461 shares of the company’s stock worth $9,551,000 after acquiring an additional 21,162 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in Adaptive Biotechnologies by 593.5% during the third quarter. Smartleaf Asset Management LLC now owns 3,939 shares of the company’s stock valued at $59,000 after buying an additional 3,371 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Adaptive Biotechnologies by 33.2% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 66,759 shares of the company’s stock valued at $999,000 after acquiring an additional 16,655 shares during the period. Institutional investors own 99.17% of the company’s stock.

Adaptive Biotechnologies Company Profile

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.