Adaptive Biotechnologies (NASDAQ:ADPT) Hits New 12-Month High – Here’s What Happened

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $26.16 and last traded at $25.45, with a volume of 2366031 shares trading hands. The stock had previously closed at $24.93.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. BTIG Research lifted their target price on shares of Adaptive Biotechnologies from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Piper Sandler boosted their target price on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Morgan Stanley upped their price target on shares of Adaptive Biotechnologies from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Finally, TD Cowen raised their price target on shares of Adaptive Biotechnologies from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Five research 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.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.42.

Adaptive Biotechnologies Price Performance

The stock’s fifty day moving average price is $21.00 and its 200-day moving average price is $17.02. The firm has a market cap of $4.03 billion, a PE ratio of -61.59 and a beta of 2.08. The company has a debt-to-equity ratio of 2.22, a current ratio of 4.79 and a quick ratio of 4.68.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The business had revenue of $71.55 million during the quarter, compared to analysts’ expectations of $65.44 million. Adaptive Biotechnologies had a negative return on equity of 36.81% and a negative net margin of 20.73%.The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) earnings per share. As a group, equities analysts expect that Adaptive Biotechnologies Corporation will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at Adaptive Biotechnologies

In other news, insider Harlan S. Robins sold 492,400 shares of the company’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $21.89, for a total value of $10,778,636.00. Following the completion of the sale, the insider directly owned 812,058 shares in the company, valued at $17,775,949.62. This represents a 37.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sharon Benzeno sold 154,768 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $21.14, for a total value of $3,271,795.52. Following the completion of the sale, the insider owned 221,278 shares of the company’s stock, valued at $4,677,816.92. This trade represents a 41.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,310,086 shares of company stock worth $27,934,739 in the last quarter. Insiders own 5.70% of the company’s stock.

Institutional Trading of Adaptive Biotechnologies

Several large investors have recently added to or reduced their stakes in ADPT. BlackRock Inc. purchased a new position in shares of Adaptive Biotechnologies during the 2nd quarter worth $324,735,000. Ameriprise Financial Inc. grew its holdings in shares of Adaptive Biotechnologies by 84.3% in the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock valued at $89,337,000 after purchasing an additional 2,731,648 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Adaptive Biotechnologies by 303.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company’s stock valued at $71,252,000 after purchasing an additional 3,299,635 shares during the period. Westfield Capital Management Co. LP acquired a new stake in Adaptive Biotechnologies during the fourth quarter worth about $65,942,000. Finally, Geode Capital Management LLC raised its stake in Adaptive Biotechnologies by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company’s stock worth $57,041,000 after purchasing an additional 110,825 shares during the period. 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.