Adaptive Biotechnologies Co. (NASDAQ:ADPT) Given Average Recommendation of “Moderate Buy” by Brokerages

Adaptive Biotechnologies Co. (NASDAQ:ADPT) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $6.80.

Several research firms have weighed in on ADPT. The Goldman Sachs Group decreased their price target on shares of Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. JPMorgan Chase & Co. lowered their price objective on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, February 15th. Finally, BTIG Research cut their target price on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, April 4th.

Adaptive Biotechnologies Stock Down 0.4 %

ADPT opened at $2.60 on Monday. Adaptive Biotechnologies has a twelve month low of $2.28 and a twelve month high of $9.08. The firm has a 50 day moving average price of $3.23 and a 200-day moving average price of $3.97. The stock has a market capitalization of $377.23 million, a price-to-earnings ratio of -1.67 and a beta of 1.25.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.02. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. The firm had revenue of $45.78 million for the quarter, compared to analysts’ expectations of $50.15 million. As a group, analysts expect that Adaptive Biotechnologies will post -1.31 earnings per share for the current year.

Insider Transactions at Adaptive Biotechnologies

In other news, insider Kyle Piskel sold 7,727 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total transaction of $26,503.61. Following the completion of the transaction, the insider now directly owns 123,318 shares in the company, valued at approximately $422,980.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Kyle Piskel sold 7,727 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $26,503.61. Following the sale, the insider now directly owns 123,318 shares in the company, valued at approximately $422,980.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chad M. Robins sold 48,673 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $166,948.39. Following the completion of the transaction, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at approximately $8,838,084.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,307 shares of company stock valued at $428,090. 5.20% of the stock is currently owned by insiders.

Institutional Trading of Adaptive Biotechnologies

Institutional investors have recently bought and sold shares of the stock. First Trust Direct Indexing L.P. purchased a new stake in shares of Adaptive Biotechnologies in the first quarter worth approximately $47,000. Personal CFO Solutions LLC bought a new stake in Adaptive Biotechnologies during the 4th quarter valued at about $55,000. AXQ Capital LP bought a new stake in Adaptive Biotechnologies during the 3rd quarter valued at about $58,000. Mesirow Financial Investment Management Inc. purchased a new stake in Adaptive Biotechnologies in the 1st quarter valued at about $60,000. Finally, QRG Capital Management Inc. bought a new position in Adaptive Biotechnologies in the 4th quarter worth about $71,000. 99.17% of the stock is currently owned by institutional investors.

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.