Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $24.4167.

A number of equities analysts have commented on the stock. Piper Sandler boosted their price target on shares of Adaptive Biotechnologies from $20.00 to $27.50 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. BTIG Research raised their price objective 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. Guggenheim boosted their price objective on shares of Adaptive Biotechnologies from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. TD Cowen upped their price objective on Adaptive Biotechnologies from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Morgan Stanley increased their price objective on Adaptive Biotechnologies from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th.

Insider Buying and Selling at Adaptive Biotechnologies

In other news, CEO Chad Robins sold 321,324 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $25.08, for a total transaction of $8,058,805.92. Following the transaction, the chief executive officer owned 2,180,518 shares of the company’s stock, valued at $54,687,391.44. This represents a 12.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Harlan Robins sold 492,400 shares of Adaptive Biotechnologies stock in a transaction dated 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 owned 812,058 shares of the company’s stock, valued at approximately $17,775,949.62. The trade was a 37.75% 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 2,017,025 shares of company stock valued at $47,093,615 over the last ninety days. Company insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

Several institutional investors have recently modified their holdings of the business. Nykredit A S bought a new position in Adaptive Biotechnologies in the second quarter valued at approximately $31,000. Allworth Financial LP acquired a new stake in Adaptive Biotechnologies during the 2nd quarter worth $35,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Adaptive Biotechnologies during the 4th quarter valued at $28,000. Integrated Wealth Concepts LLC bought a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at $46,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Adaptive Biotechnologies by 197.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,359 shares of the company’s stock valued at $38,000 after purchasing an additional 1,565 shares during the period. Institutional investors and hedge funds own 99.17% of the company’s stock.

Adaptive Biotechnologies Stock Performance

Adaptive Biotechnologies stock opened at $27.86 on Thursday. The firm has a market capitalization of $4.45 billion, a P/E ratio of -67.95 and a beta of 2.09. The stock has a fifty day moving average price of $24.50 and a two-hundred day moving average price of $18.75. Adaptive Biotechnologies has a 52-week low of $12.00 and a 52-week high of $28.78. 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 issued its earnings results on Wednesday, July 29th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.12). The firm had revenue of $71.55 million during the quarter, compared to analyst estimates of $65.44 million. Adaptive Biotechnologies had a negative net margin of 20.73% and a negative return on equity of 36.81%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.17) EPS. As a group, analysts anticipate that Adaptive Biotechnologies will post -0.4 EPS for the current fiscal year.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corp. (NASDAQ: ADPT) is a biotechnology company focused on applying immune-system data to the diagnosis and treatment of disease. The company develops technologies that decode T-cell and B-cell receptors, helping researchers and clinicians analyze the adaptive immune response at the scale of individual immune cells.

Its key products include clonoSEQ, a clinical diagnostic test that measures minimal residual disease in certain blood cancers, including multiple myeloma and acute lymphoblastic leukemia.