Adaptive Biotechnologies (NASDAQ:ADPT) Shares Up 9.3% – Here’s What Happened

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT) were up 9.3% during trading on Thursday . The company traded as high as $18.49 and last traded at $18.6650. Approximately 994,640 shares traded hands during trading, a decline of 49% from the average daily volume of 1,938,534 shares. The stock had previously closed at $17.07.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ADPT shares. BTIG Research reissued a “buy” rating and set a $22.00 target price on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. JPMorgan Chase & Co. cut their target price on shares of Adaptive Biotechnologies from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Adaptive Biotechnologies from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Guggenheim reissued a “buy” rating and set a $21.00 target price on shares of Adaptive Biotechnologies in a research note on Wednesday, May 6th. Finally, TD Cowen boosted their price target on shares of Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Adaptive Biotechnologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.57.

Adaptive Biotechnologies Trading Up 10.5%

The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -57.47 and a beta of 2.15. The firm’s fifty day simple moving average is $14.41 and its two-hundred day simple moving average is $15.67.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.03. The company had revenue of $70.87 million for the quarter, compared to analyst estimates of $61.03 million. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. Adaptive Biotechnologies’s revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) EPS. As a group, analysts forecast that Adaptive Biotechnologies Corporation will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, COO Julie Rubinstein sold 30,941 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $14.83, for a total value of $458,855.03. Following the sale, the chief operating officer directly owned 434,188 shares of the company’s stock, valued at approximately $6,439,008.04. This represents a 6.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Francis Lo sold 39,741 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $17.49, for a total transaction of $695,070.09. Following the completion of the sale, the insider directly owned 250,934 shares in the company, valued at approximately $4,388,835.66. This represents a 13.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 535,714 shares of company stock worth $7,756,708 in the last ninety days. 5.70% of the stock is owned by insiders.

Institutional Trading of Adaptive Biotechnologies

Hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth $28,000. 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 worth $38,000 after acquiring an additional 1,565 shares during the period. Assetmark Inc. lifted its stake in shares of Adaptive Biotechnologies by 867.9% in the 4th 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 period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth $51,000. Finally, Strive Financial Group LLC acquired a new stake in shares of Adaptive Biotechnologies in the 4th quarter worth $52,000. 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.