Adaptive Biotechnologies (NASDAQ:ADPT) Shares Gap Up – What’s Next?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) gapped up prior to trading on Friday . The stock had previously closed at $12.45, but opened at $13.05. Adaptive Biotechnologies shares last traded at $12.9250, with a volume of 592,085 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adaptive Biotechnologies in a report on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of Adaptive Biotechnologies in a report on Friday, February 6th. Piper Sandler set a $21.00 price target on Adaptive Biotechnologies in a research report on Friday, February 6th. BTIG Research upped their price objective on Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Finally, Wall Street Zen downgraded Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.25.

Adaptive Biotechnologies Stock Up 3.5%

The stock has a market capitalization of $1.98 billion, a PE ratio of -32.27 and a beta of 2.19. The firm’s fifty day moving average is $16.61 and its 200-day moving average is $15.85.

Adaptive Biotechnologies (NASDAQ:ADPT) last released its earnings results on Thursday, February 5th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.10. Adaptive Biotechnologies had a negative return on equity of 46.68% and a negative net margin of 21.48%.The company had revenue of $71.68 million for the quarter, compared to analysts’ expectations of $59.38 million. During the same quarter in the previous year, the firm posted ($0.23) EPS. The firm’s quarterly revenue was up 51.0% on a year-over-year basis. On average, analysts expect that Adaptive Biotechnologies Corporation will post -0.92 EPS for the current year.

Insider Transactions at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 30,941 shares of the company’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $16.00, for a total value of $495,056.00. Following the sale, the chief operating officer owned 652,147 shares of the company’s stock, valued at approximately $10,434,352. This represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chad M. Robins sold 289,024 shares of Adaptive Biotechnologies stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $15.82, for a total value of $4,572,359.68. Following the transaction, the chief executive officer directly owned 1,987,330 shares of the company’s stock, valued at $31,439,560.60. This trade represents a 12.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 1,209,806 shares of company stock valued at $19,656,239. Company insiders own 6.40% of the company’s stock.

Hedge Funds Weigh In On Adaptive Biotechnologies

Hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at about $28,000. Sound Income Strategies LLC acquired a new stake in Adaptive Biotechnologies during the 3rd quarter valued at $30,000. EverSource Wealth Advisors LLC increased its position in Adaptive Biotechnologies by 197.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock worth $38,000 after buying an additional 1,565 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Adaptive Biotechnologies by 867.9% in the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock worth $49,000 after acquiring an additional 2,708 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at $51,000. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

Adaptive Biotechnologies Company Profile

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.