Adaptive Biotechnologies (NASDAQ:ADPT) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Adaptive Biotechnologies (NASDAQ:ADPT) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other analysts also recently weighed in on ADPT. Piper Sandler set a $21.00 price target on shares of Adaptive Biotechnologies in a research report on Friday, February 6th. JPMorgan Chase & Co. upped their price target on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Morgan Stanley started coverage on shares of Adaptive Biotechnologies in a research note on Monday, December 1st. They set an “equal weight” rating and a $21.00 price objective on the stock. Guggenheim raised their price objective on shares of Adaptive Biotechnologies from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research report on Wednesday, January 21st. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.25.

Adaptive Biotechnologies Stock Performance

NASDAQ:ADPT opened at $14.95 on Friday. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -37.37 and a beta of 2.19. Adaptive Biotechnologies has a one year low of $6.26 and a one year high of $20.76. The business’s 50-day simple moving average is $16.76 and its 200 day simple moving average is $15.87.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings data on Thursday, February 5th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $71.68 million during the quarter, compared to analyst estimates of $59.38 million. During the same quarter last year, the firm earned ($0.23) EPS. Adaptive Biotechnologies’s quarterly revenue was up 51.0% on a year-over-year basis. On average, equities research analysts predict that Adaptive Biotechnologies will post -0.92 EPS for the current year.

Insider Buying and Selling at Adaptive Biotechnologies

In related news, insider Francis Lo sold 38,074 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $15.09, for a total transaction of $574,536.66. Following the sale, the insider directly owned 321,967 shares of the company’s stock, valued at approximately $4,858,482.03. This represents a 10.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kyle Piskel sold 2,145 shares of Adaptive Biotechnologies stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $18.46, for a total transaction of $39,596.70. Following the completion of the transaction, the chief financial officer directly owned 216,637 shares of the company’s stock, valued at approximately $3,999,119.02. This represents a 0.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 1,182,373 shares of company stock worth $19,280,437. 6.40% of the stock is owned by insiders.

Institutional Trading of Adaptive Biotechnologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in Adaptive Biotechnologies by 3.1% during the 3rd quarter. Brighton Jones LLC now owns 23,301 shares of the company’s stock worth $349,000 after acquiring an additional 700 shares during the period. Bouvel Investment Partners LLC increased its holdings in shares of Adaptive Biotechnologies by 2.2% during the third quarter. Bouvel Investment Partners LLC now owns 42,878 shares of the company’s stock valued at $641,000 after purchasing an additional 904 shares during the period. China Universal Asset Management Co. Ltd. raised its stake in shares of Adaptive Biotechnologies by 3.1% during the second quarter. China Universal Asset Management Co. Ltd. now owns 30,512 shares of the company’s stock valued at $355,000 after purchasing an additional 910 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Adaptive Biotechnologies by 1.0% during the second quarter. California State Teachers Retirement System now owns 98,321 shares of the company’s stock valued at $1,145,000 after purchasing an additional 933 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Adaptive Biotechnologies by 7.6% in the second quarter. Captrust Financial Advisors now owns 15,762 shares of the company’s stock worth $184,000 after purchasing an additional 1,119 shares during the period. 99.17% of the stock is currently owned by institutional investors and hedge funds.

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.