JPMorgan Chase & Co. Issues Positive Forecast for Adaptive Biotechnologies (NASDAQ:ADPT) Stock Price

Adaptive Biotechnologies (NASDAQ:ADPT) had its price target upped by JPMorgan Chase & Co. from $17.00 to $20.00 in a report issued on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, October 8th. TD Cowen raised their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Piper Sandler boosted their target price on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Guggenheim assumed coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 30th. They issued a “buy” rating and a $20.00 price target for the company. Finally, BTIG Research lifted their price target on shares of Adaptive Biotechnologies from $14.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Adaptive Biotechnologies has an average rating of “Moderate Buy” and an average price target of $15.78.

Adaptive Biotechnologies Price Performance

ADPT stock traded down $0.77 during trading on Thursday, reaching $14.79. 2,944,583 shares of the company were exchanged, compared to its average volume of 1,993,778. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -18.04 and a beta of 2.09. The company has a 50-day moving average of $14.83 and a two-hundred day moving average of $11.99. Adaptive Biotechnologies has a twelve month low of $4.27 and a twelve month high of $17.89.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its earnings results on Wednesday, November 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.01. The firm had revenue of $93.97 million for the quarter, compared to analyst estimates of $58.76 million. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company’s quarterly revenue was up 102.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.22) earnings per share. On average, analysts forecast that Adaptive Biotechnologies will post -0.92 EPS for the current year.

Institutional Trading of Adaptive Biotechnologies

A number of large investors have recently bought and sold shares of ADPT. Ameriprise Financial Inc. lifted its stake in shares of Adaptive Biotechnologies by 801.6% in the 1st quarter. Ameriprise Financial Inc. now owns 6,642,476 shares of the company’s stock valued at $49,355,000 after purchasing an additional 5,905,756 shares during the period. Braidwell LP bought a new stake in Adaptive Biotechnologies in the first quarter worth approximately $35,692,000. Iron Triangle Partners LP acquired a new position in Adaptive Biotechnologies in the first quarter valued at approximately $15,856,000. Victory Capital Management Inc. lifted its stake in Adaptive Biotechnologies by 9,892.2% in the first quarter. Victory Capital Management Inc. now owns 1,764,227 shares of the company’s stock valued at $13,108,000 after buying an additional 1,746,571 shares during the period. Finally, Driehaus Capital Management LLC boosted its holdings in shares of Adaptive Biotechnologies by 154.4% during the 1st quarter. Driehaus Capital Management LLC now owns 2,152,335 shares of the company’s stock worth $15,992,000 after buying an additional 1,306,164 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors and hedge funds.

About Adaptive Biotechnologies

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.