Adaptive Biotechnologies (NASDAQ:ADPT) Hits New 12-Month Low at $20.80

Adaptive Biotechnologies Co. (NASDAQ:ADPT)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $20.80 and last traded at $21.20, with a volume of 1721 shares traded. The stock had previously closed at $21.33.

A number of equities research analysts have recently issued reports on ADPT shares. Zacks Investment Research raised Adaptive Biotechnologies from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Tuesday, January 4th. William Blair reiterated an “outperform” rating on shares of Adaptive Biotechnologies in a report on Friday, October 15th. Cowen started coverage on Adaptive Biotechnologies in a report on Friday, October 15th. They set an “outperform” rating on the stock. Finally, BTIG Research lowered their price target on Adaptive Biotechnologies from $55.00 to $45.00 in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $46.00.

The business has a fifty day moving average price of $27.51 and a two-hundred day moving average price of $32.83. The firm has a market cap of $2.73 billion, a PE ratio of -14.12 and a beta of 0.38.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Tuesday, November 2nd. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.02. Adaptive Biotechnologies had a negative return on equity of 27.07% and a negative net margin of 129.89%. The firm had revenue of $39.47 million for the quarter, compared to the consensus estimate of $37.60 million. During the same quarter in the previous year, the company posted ($0.27) earnings per share. On average, sell-side analysts expect that Adaptive Biotechnologies Co. will post -1.47 earnings per share for the current fiscal year.

In other Adaptive Biotechnologies news, CFO Chad M. Cohen sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 9th. The stock was sold at an average price of $36.03, for a total value of $180,150.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Stacy L. Taylor sold 15,338 shares of the business’s stock in a transaction dated Wednesday, December 22nd. The shares were sold at an average price of $30.00, for a total value of $460,140.00. The disclosure for this sale can be found here. Insiders sold 38,138 shares of company stock worth $1,202,521 in the last 90 days. Corporate insiders own 34.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Adaptive Biotechnologies by 14.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,966,891 shares of the company’s stock worth $448,107,000 after acquiring an additional 1,342,666 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Adaptive Biotechnologies by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 10,177,659 shares of the company’s stock worth $415,859,000 after acquiring an additional 155,670 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Adaptive Biotechnologies by 5.1% during the 3rd quarter. BlackRock Inc. now owns 5,590,226 shares of the company’s stock worth $190,012,000 after acquiring an additional 270,369 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in shares of Adaptive Biotechnologies by 2.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,253,728 shares of the company’s stock worth $76,537,000 after acquiring an additional 51,843 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Adaptive Biotechnologies by 3.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,218,729 shares of the company’s stock worth $75,415,000 after acquiring an additional 70,410 shares in the last quarter. Institutional investors own 82.67% of the company’s stock.

Adaptive Biotechnologies Company Profile (NASDAQ:ADPT)

Adaptive Biotechnologies Corp. engages in the development of an immune medicine platform. It harnesses the inherent biology of the adaptive immune system to transform the diagnosis and treatment of disease. Its products and services include immunoSEQ, clonoSEQ, cellular therapy, and vaccines. The company was founded by Chad Robins, Harlan Robins, and Chris Carlson in September 2009 and is headquartered in Seattle, WA.

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