Adaptive Biotechnologies (NASDAQ:ADPT) Cut to “Hold” at 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 note issued to investors on Saturday.

A number of other research firms also recently weighed in on ADPT. TD Cowen reaffirmed a “buy” rating on shares of Adaptive Biotechnologies in a research report on Friday, February 6th. JPMorgan Chase & Co. increased their price objective on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. BTIG Research raised their price objective on Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a report on Friday, February 6th. Piper Sandler set a $21.00 target price on Adaptive Biotechnologies in a research report on Friday, February 6th. Finally, Morgan Stanley assumed coverage on Adaptive Biotechnologies in a report on Monday, December 1st. They set an “equal weight” rating and a $21.00 target price on the stock. Seven 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. Based on data from MarketBeat.com, Adaptive Biotechnologies currently has an average rating of “Moderate Buy” and a consensus target price of $18.25.

Adaptive Biotechnologies Stock Down 6.8%

NASDAQ:ADPT opened at $14.85 on Friday. Adaptive Biotechnologies has a twelve month low of $6.26 and a twelve month high of $20.76. The business has a 50 day moving average price of $16.80 and a two-hundred day moving average price of $15.81. The company has a market cap of $2.29 billion, a P/E ratio of -37.12 and a beta of 2.19.

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

Insider Activity

In other Adaptive Biotechnologies news, insider Harlan S. Robins sold 14,233 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $16.52, for a total transaction of $235,129.16. Following the transaction, the insider owned 1,155,291 shares of the company’s stock, valued at $19,085,407.32. The trade was a 1.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chad M. Robins sold 53,083 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $15.52, for a total value of $823,848.16. Following the completion of the sale, the chief executive officer owned 1,934,247 shares in the company, valued at $30,019,513.44. This represents a 2.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,144,299 shares of company stock valued at $18,705,900 in the last 90 days. 6.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in shares of Adaptive Biotechnologies in the second quarter valued at about $793,000. SG Americas Securities LLC increased its position in Adaptive Biotechnologies by 53.2% during the second quarter. SG Americas Securities LLC now owns 37,328 shares of the company’s stock worth $435,000 after acquiring an additional 12,963 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Adaptive Biotechnologies in the 2nd quarter worth about $6,618,000. Allianz Asset Management GmbH boosted its holdings in Adaptive Biotechnologies by 305.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 321,774 shares of the company’s stock valued at $4,814,000 after purchasing an additional 242,474 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in Adaptive Biotechnologies in the 2nd quarter valued at about $467,000. 99.17% of the stock is currently owned by institutional investors.

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.