Brokerages Set Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Price Target at $10.57

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One investment 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 issued a report on the stock in the last year is $10.57.

ADPT has been the subject of a number of recent research reports. 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. The Goldman Sachs Group boosted their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Piper Sandler reissued an “overweight” rating and set a $13.00 target price (up previously from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. Finally, Morgan Stanley upped their price objective 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.

Insider Buying and Selling

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 68,412 shares of Adaptive Biotechnologies stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $7.35, for a total transaction of $502,828.20. Following the completion of the sale, the insider now owns 1,279,524 shares of the company’s stock, valued at approximately $9,404,501.40. The trade was a 5.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Adaptive Biotechnologies

Several institutional investors and hedge funds have recently made changes to their positions in ADPT. Rhumbline Advisers boosted its stake in Adaptive Biotechnologies by 3.0% in the 4th quarter. Rhumbline Advisers now owns 181,202 shares of the company’s stock worth $1,086,000 after purchasing an additional 5,361 shares during the period. Principal Financial Group Inc. acquired a new stake in Adaptive Biotechnologies during the fourth quarter worth approximately $860,000. D.A. Davidson & CO. lifted its position in Adaptive Biotechnologies by 8.2% during the fourth quarter. D.A. Davidson & CO. now owns 88,450 shares of the company’s stock worth $530,000 after acquiring an additional 6,725 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $264,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at approximately $93,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Up 1.5%

ADPT stock opened at $12.16 on Tuesday. The company has a 50 day moving average of $9.33 and a two-hundred day moving average of $8.09. Adaptive Biotechnologies has a 12-month low of $3.26 and a 12-month high of $12.43. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -12.67 and a beta of 1.80.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.08. The business had revenue of $52.44 million for the quarter, compared to analysts’ expectations of $42.13 million. Adaptive Biotechnologies had a negative net margin of 74.84% and a negative return on equity of 62.79%. Adaptive Biotechnologies’s revenue was up 25.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.33) EPS. On average, research analysts anticipate 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.