Adaptive Biotechnologies Co. (NASDAQ:ADPT) Receives Average Rating of “Moderate Buy” from Analysts

Adaptive Biotechnologies Co. (NASDAQ:ADPT) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $9.83.

Several brokerages have recently issued reports on ADPT. Morgan Stanley lifted their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. The Goldman Sachs Group boosted their price target 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. Scotiabank boosted their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 target price (up previously from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, Director Robert Hershberg sold 53,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $7.59, for a total transaction of $402,270.00. Following the sale, the director now directly owns 69,690 shares in the company, valued at approximately $528,947.10. This represents a 43.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michelle Renee Griffin sold 15,664 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $7.94, for a total transaction of $124,372.16. Following the completion of the transaction, the director now owns 51,685 shares in the company, valued at $410,378.90. This represents a 23.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 358,754 shares of company stock valued at $2,584,806 over the last 90 days. 6.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several hedge funds have recently added to or reduced their stakes in ADPT. KBC Group NV purchased a new position in Adaptive Biotechnologies in the fourth quarter valued at approximately $50,000. Cibc World Markets Corp acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $65,000. Bridgefront Capital LLC acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth $80,000. Personal CFO Solutions LLC acquired a new stake in shares of Adaptive Biotechnologies during the first quarter worth $84,000. Finally, Blair William & Co. IL acquired a new stake in Adaptive Biotechnologies in the first quarter valued at $84,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Trading Up 1.7%

Shares of NASDAQ ADPT opened at $9.31 on Friday. Adaptive Biotechnologies has a 12 month low of $2.99 and a 12 month high of $10.28. The company has a 50 day simple moving average of $8.28 and a two-hundred day simple moving average of $7.42. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -8.54 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.08. The firm had revenue of $52.44 million during the quarter, compared to analyst estimates of $42.13 million. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The business’s quarterly revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.33) EPS. Analysts forecast that Adaptive Biotechnologies will post -0.92 EPS for the current year.

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.