Adaptive Biotechnologies (NASDAQ:ADPT) Stock Rating Lowered by Wall Street Zen

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

Other analysts also recently issued research reports about the stock. BTIG Research increased their target price on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Wednesday, January 21st. Piper Sandler set a $21.00 price objective on shares of Adaptive Biotechnologies in a report on Friday, February 6th. Morgan Stanley started coverage on shares of Adaptive Biotechnologies in a research note on Monday, December 1st. They issued an “equal weight” rating and a $21.00 target price on the stock. Finally, Guggenheim increased their price target on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.25.

Adaptive Biotechnologies Price Performance

ADPT opened at $14.85 on Friday. The stock has a market cap of $2.29 billion, a P/E ratio of -37.12 and a beta of 2.19. The stock’s 50 day simple moving average is $16.80 and its 200 day simple moving average is $15.81. Adaptive Biotechnologies has a 1-year low of $6.26 and a 1-year high of $20.76.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings data on Thursday, February 5th. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.10. The business had revenue of $71.68 million for the quarter, compared to analyst estimates of $59.38 million. Adaptive Biotechnologies had a negative net margin of 21.48% and a negative return on equity of 46.68%. The business’s revenue for the quarter was up 51.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.23) EPS. Research analysts expect that Adaptive Biotechnologies will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 30,941 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $16.00, for a total value of $495,056.00. Following the completion of the sale, the chief operating officer owned 575,235 shares in the company, valued at approximately $9,203,760. This trade represents a 5.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad M. Robins sold 53,083 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $15.52, for a total transaction of $823,848.16. Following the sale, the chief executive officer owned 1,934,247 shares in the company, valued at approximately $30,019,513.44. This trade represents a 2.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 1,144,299 shares of company stock valued at $18,705,900. 6.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Adaptive Biotechnologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADPT. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $28,000. Sound Income Strategies LLC acquired a new position in Adaptive Biotechnologies in the 3rd quarter worth $30,000. EverSource Wealth Advisors LLC increased its holdings in Adaptive Biotechnologies by 197.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock worth $38,000 after purchasing an additional 1,565 shares in the last quarter. Assetmark Inc. increased its holdings in Adaptive Biotechnologies by 867.9% during the 4th quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock worth $49,000 after purchasing an additional 2,708 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter valued at about $51,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Company Profile

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.