Adaptive Biotechnologies (NASDAQ:ADPT) Sets New 52-Week High – What’s Next?

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) hit a new 52-week high during trading on Thursday . The stock traded as high as $22.54 and last traded at $22.37, with a volume of 3284248 shares. The stock had previously closed at $21.45.

Analysts Set New Price Targets

Several research analysts recently issued reports on ADPT shares. Wall Street Zen downgraded shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. JPMorgan Chase & Co. lowered their price objective on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Guggenheim upped their target price on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Monday. BTIG Research reissued a “buy” rating and set a $22.00 price target on shares of Adaptive Biotechnologies in a research note on Wednesday, June 17th. Finally, Morgan Stanley lowered their price target on shares of Adaptive Biotechnologies from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Adaptive Biotechnologies Stock Up 4.3%

The firm has a fifty day moving average of $15.81 and a 200-day moving average of $15.79. The firm has a market cap of $3.58 billion, a P/E ratio of -67.79 and a beta of 2.07.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. Adaptive Biotechnologies had a negative return on equity of 40.06% and a negative net margin of 16.82%.The firm had revenue of $70.87 million during the quarter, compared to analysts’ expectations of $61.03 million. During the same period in the previous year, the business posted ($0.20) EPS. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. Sell-side analysts anticipate that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current year.

Insider Activity at Adaptive Biotechnologies

In related news, insider Sharon Benzeno sold 154,768 shares of the business’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 transaction of $3,271,795.52. Following the completion of the sale, the insider directly owned 221,278 shares of the company’s stock, valued at $4,677,816.92. The trade was a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Susan Bobulsky sold 5,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $19.00, for a total transaction of $95,000.00. Following the completion of the transaction, the insider owned 411,775 shares in the company, valued at $7,823,725. This represents a 1.20% 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 698,316 shares of company stock worth $11,655,488 over the last 90 days. Insiders own 5.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new position in shares of Adaptive Biotechnologies in the 4th quarter worth $28,000. EverSource Wealth Advisors LLC increased its holdings in Adaptive Biotechnologies by 197.1% in the fourth 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 last quarter. KBC Group NV acquired a new position in Adaptive Biotechnologies in the first quarter valued at about $45,000. Assetmark Inc. lifted its stake in Adaptive Biotechnologies by 867.9% in the fourth quarter. Assetmark Inc. now owns 3,020 shares of the company’s stock valued at $49,000 after buying an additional 2,708 shares during the period. Finally, T. Rowe Price Investment Management Inc. bought a new position in Adaptive Biotechnologies during the fourth quarter worth about $51,000. Institutional investors and hedge funds own 99.17% of the company’s stock.

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.