Adaptive Biotechnologies Corporation (ADPT) – What Are Brokerages Thinking About This Stock?

Adaptive Biotechnologies Corporation (NASDAQ:ADPT) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $30.06.

Several equities analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Adaptive Biotechnologies from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Monday, October 12th. The Goldman Sachs Group began coverage on Adaptive Biotechnologies in a report on Tuesday, September 29th. They issued a “buy” rating and a $35.00 target price on the stock. TD Cowen raised their target price on Adaptive Biotechnologies from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, October 13th. Piper Sandler lifted their price target on Adaptive Biotechnologies from $20.00 to $27.50 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Finally, Guggenheim upped their price target on Adaptive Biotechnologies from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, October 1st.

Insiders Place Their Bets

In related news, COO Julie Rubinstein sold 11,881 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $25.61, for a total transaction of $304,272.41. Following the transaction, the chief operating officer owned 377,802 shares of the company’s stock, valued at approximately $9,675,509.22. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Chad Robins sold 278,676 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $24.48, for a total transaction of $6,821,988.48. Following the transaction, the chief executive officer owned 2,180,518 shares of the company’s stock, valued at approximately $53,379,080.64. The trade was a 11.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,461,295 shares of company stock valued at $35,464,440 over the last ninety days. 5.70% of the stock is owned by insiders.

Institutional Trading of Adaptive Biotechnologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC acquired a new position in shares of Adaptive Biotechnologies during the second quarter valued at about $855,000. Integrated Wealth Concepts LLC bought a new stake in shares of Adaptive Biotechnologies in the second quarter valued at about $46,000. Arizona State Retirement System grew its position in Adaptive Biotechnologies by 1.3% during the second quarter. Arizona State Retirement System now owns 31,866 shares of the company’s stock worth $684,000 after buying an additional 416 shares in the last quarter. Nykredit A S acquired a new stake in Adaptive Biotechnologies during the second quarter worth about $31,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Adaptive Biotechnologies during the second quarter worth about $754,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

Adaptive Biotechnologies stock opened at $24.02 on Monday. 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 has a fifty-two week low of $12.00 and a fifty-two week high of $30.74. The firm has a fifty day moving average price of $26.16 and a two-hundred day moving average price of $20.54. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -58.59 and a beta of 2.09.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Wednesday, July 29th. The company reported ($0.25) earnings per share (EPS) 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 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 company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. As a group, analysts forecast that Adaptive Biotechnologies will post -0.40 earnings per share for the current year.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies is a biotechnology company focused on using the genetics of the adaptive immune system to develop diagnostic and therapeutic applications. Its technologies analyze immune-cell receptors, including T-cell and B-cell receptors, to help identify and measure immune responses associated with cancer, infectious diseases and other conditions.

The company’s product portfolio includes immunoSEQ, a research and clinical platform for immune-repertoire sequencing, and clonoSEQ, a diagnostic test used to detect and monitor measurable residual disease in certain blood cancers.