Equities research analysts at Craig Hallum started coverage on shares of Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $15.00 price target on the stock. Craig Hallum’s price target points to a potential upside of 43.27% from the stock’s current price.
Other research analysts also recently issued research reports about the company. Morgan Stanley upped their price objective on Adaptive Biotechnologies from $7.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. The Goldman Sachs Group upped their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Piper Sandler restated an “overweight” rating and issued a $13.00 price objective (up previously from $11.00) on shares of Adaptive Biotechnologies in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.57.
Adaptive Biotechnologies Trading Up 3.3%
Adaptive Biotechnologies (NASDAQ:ADPT – Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. The business had revenue of $52.44 million during the quarter, compared to analyst estimates of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 62.79% and a negative net margin of 74.84%. Adaptive Biotechnologies’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.33) EPS. As a group, sell-side analysts predict that Adaptive Biotechnologies will post -0.92 EPS for the current fiscal year.
Insider Transactions at Adaptive Biotechnologies
In other news, insider Harlan S. Robins sold 68,412 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.35, for a total transaction of $502,828.20. Following the completion of the transaction, the insider now owns 1,279,524 shares in the company, valued at approximately $9,404,501.40. This represents a 5.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders sold 72,039 shares of company stock worth $535,259. 6.40% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. Cibc World Markets Corp bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $65,000. Bridgefront Capital LLC bought a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $80,000. Personal CFO Solutions LLC bought a new position in shares of Adaptive Biotechnologies during the 1st quarter worth $84,000. Blair William & Co. IL bought a new position in Adaptive Biotechnologies in the 1st quarter worth about $84,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Adaptive Biotechnologies in the 1st quarter worth about $87,000. Institutional investors own 99.17% of the company’s stock.
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.
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