Adaptive Biotechnologies (NASDAQ:ADPT) Hits New 12-Month High – Should You Buy?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) shares reached a new 52-week high on Friday . The company traded as high as $20.86 and last traded at $20.8490, with a volume of 329078 shares traded. The stock had previously closed at $20.25.

Analysts Set New Price Targets

ADPT has been the subject of a number of analyst reports. TD Cowen lifted their price target on Adaptive Biotechnologies from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley lowered their price objective on Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Guggenheim restated a “buy” rating and issued a $21.00 target price on shares of Adaptive Biotechnologies in a report on Wednesday, May 6th. BTIG Research restated a “buy” rating and issued a $22.00 target price on shares of Adaptive Biotechnologies in a report on Wednesday, June 17th. Finally, Wall Street Zen cut Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.33.

Adaptive Biotechnologies Price Performance

The company’s fifty day moving average price is $15.37 and its 200 day moving average price is $15.65. The company has a market cap of $3.36 billion, a PE ratio of -63.56 and a beta of 2.15.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The company had revenue of $70.87 million for the quarter, compared to analyst estimates of $61.03 million. During the same period last year, the firm earned ($0.20) earnings per share. The firm’s revenue was up 35.1% on a year-over-year basis. On average, analysts forecast that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current year.

Insider Activity

In other news, insider Harlan S. Robins sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $17.37, for a total value of $1,737,000.00. Following the transaction, the insider owned 1,412,058 shares in the company, valued at $24,527,447.46. The trade was a 6.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 39,741 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $17.49, for a total value of $695,070.09. Following the completion of the transaction, the insider owned 250,934 shares in the company, valued at $4,388,835.66. The trade was a 13.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 551,574 shares of company stock worth $8,427,395 in the last quarter. 5.70% of the stock is owned by corporate insiders.

Institutional Trading of Adaptive Biotechnologies

Hedge funds have recently bought and sold shares of the business. Westfield Capital Management Co. LP purchased a new position in Adaptive Biotechnologies in the fourth quarter worth $65,942,000. Price T Rowe Associates Inc. MD increased its position in shares of Adaptive Biotechnologies by 303.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company’s stock valued at $71,252,000 after purchasing an additional 3,299,635 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Adaptive Biotechnologies by 84.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock valued at $89,337,000 after purchasing an additional 2,731,648 shares during the last quarter. Invesco Ltd. raised its stake in shares of Adaptive Biotechnologies by 248.8% during the 4th quarter. Invesco Ltd. now owns 3,107,653 shares of the company’s stock worth $50,468,000 after purchasing an additional 2,216,595 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Adaptive Biotechnologies by 544.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,441,402 shares of the company’s stock worth $36,523,000 after purchasing an additional 2,062,282 shares during the period. 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.