Adaptive Biotechnologies (NASDAQ:ADPT) Downgraded by Wall Street Zen to “Hold”

Adaptive Biotechnologies (NASDAQ:ADPT) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

ADPT has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on Adaptive Biotechnologies from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Piper Sandler increased their target price on Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. BTIG Research boosted their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Adaptive Biotechnologies in a report on Wednesday, January 7th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.22.

Adaptive Biotechnologies Price Performance

NASDAQ:ADPT opened at $18.50 on Friday. The company has a 50 day moving average price of $17.29 and a 200-day moving average price of $14.97. Adaptive Biotechnologies has a 1-year low of $6.26 and a 1-year high of $20.76. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of -34.26 and a beta of 2.18.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.01. Adaptive Biotechnologies had a negative net margin of 31.50% and a negative return on equity of 58.40%. The company had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. During the same quarter last year, the business earned ($0.22) earnings per share. The firm’s revenue was up 102.4% on a year-over-year basis. On average, sell-side analysts anticipate that Adaptive Biotechnologies will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Chad M. Robins sold 124,998 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $15.59, for a total transaction of $1,948,718.82. Following the completion of the sale, the chief executive officer owned 2,584,243 shares of the company’s stock, valued at approximately $40,288,348.37. This represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Harlan S. Robins sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $16.44, for a total transaction of $164,400.00. Following the completion of the transaction, the insider directly owned 1,222,312 shares in the company, valued at $20,094,809.28. This trade represents a 0.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 1,442,530 shares of company stock valued at $24,610,748. Corporate insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently made changes to their positions in ADPT. Ameriprise Financial Inc. boosted its stake in Adaptive Biotechnologies by 84.3% during the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock worth $89,337,000 after buying an additional 2,731,648 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Adaptive Biotechnologies by 15.6% during the 2nd quarter. Geode Capital Management LLC now owns 3,215,171 shares of the company’s stock worth $37,461,000 after acquiring an additional 434,347 shares during the period. Aristotle Atlantic Partners LLC boosted its position in shares of Adaptive Biotechnologies by 8.6% during the 3rd quarter. Aristotle Atlantic Partners LLC now owns 3,126,719 shares of the company’s stock valued at $46,776,000 after acquiring an additional 247,402 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Adaptive Biotechnologies by 103.9% in the fourth quarter. Jennison Associates LLC now owns 2,674,668 shares of the company’s stock valued at $43,437,000 after purchasing an additional 1,363,181 shares during the period. Finally, Fred Alger Management LLC increased its position in Adaptive Biotechnologies by 6.7% during the third quarter. Fred Alger Management LLC now owns 2,514,234 shares of the company’s stock worth $37,613,000 after purchasing an additional 158,807 shares during the last quarter. Institutional investors and hedge funds own 99.17% of the company’s stock.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company’s flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.