Adaptive Biotechnologies Co. (NASDAQ:ADPT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Adaptive Biotechnologies Co. (NASDAQ:ADPT) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $6.80.

A number of research analysts recently commented on ADPT shares. BTIG Research decreased their price target on Adaptive Biotechnologies from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, April 4th. The Goldman Sachs Group decreased their price target on Adaptive Biotechnologies from $11.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, February 16th. Finally, JPMorgan Chase & Co. decreased their price target on Adaptive Biotechnologies from $11.00 to $8.00 and set an “overweight” rating on the stock in a research report on Thursday, February 15th.

Insider Activity at Adaptive Biotechnologies

In related news, CEO Chad M. Robins sold 48,673 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.43, for a total value of $166,948.39. Following the sale, the chief executive officer now directly owns 2,576,701 shares of the company’s stock, valued at $8,838,084.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Tycho Peterson sold 15,456 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $3.44, for a total transaction of $53,168.64. Following the sale, the chief financial officer now directly owns 531,553 shares of the company’s stock, valued at $1,828,542.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chad M. Robins sold 48,673 shares of Adaptive Biotechnologies stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total value of $166,948.39. Following the sale, the chief executive officer now directly owns 2,576,701 shares in the company, valued at $8,838,084.43. The disclosure for this sale can be found here. Insiders have sold 124,307 shares of company stock valued at $428,090 over the last ninety days. 5.20% of the stock is owned by corporate insiders.

Institutional Trading of Adaptive Biotechnologies

A number of hedge funds have recently made changes to their positions in ADPT. JPMorgan Chase & Co. boosted its stake in shares of Adaptive Biotechnologies by 17.7% during the first quarter. JPMorgan Chase & Co. now owns 329,115 shares of the company’s stock valued at $4,569,000 after purchasing an additional 49,451 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Adaptive Biotechnologies during the first quarter valued at about $160,000. Citigroup Inc. boosted its stake in shares of Adaptive Biotechnologies by 16.6% during the first quarter. Citigroup Inc. now owns 28,375 shares of the company’s stock valued at $394,000 after purchasing an additional 4,047 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Adaptive Biotechnologies by 176.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,293 shares of the company’s stock valued at $73,000 after purchasing an additional 3,380 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Adaptive Biotechnologies during the first quarter worth about $1,284,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Price Performance

ADPT stock opened at $2.83 on Thursday. The stock has a market capitalization of $410.60 million, a price-to-earnings ratio of -1.81 and a beta of 1.25. The business’s fifty day moving average price is $3.54 and its two-hundred day moving average price is $4.21. Adaptive Biotechnologies has a fifty-two week low of $2.56 and a fifty-two week high of $9.08.

Adaptive Biotechnologies (NASDAQ:ADPT) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.02. The firm had revenue of $45.78 million for the quarter, compared to analysts’ expectations of $50.15 million. Adaptive Biotechnologies had a negative return on equity of 53.65% and a negative net margin of 132.29%. Research analysts expect that Adaptive Biotechnologies will post -1.31 EPS for the current year.

Adaptive Biotechnologies Company Profile

Adaptive Biotechnologies Corporation, a commercial-stage company, develops an immune medicine platform for the diagnosis and treatment of various diseases. The company offers immunosequencing platform which combines a suite of proprietary chemistry, computational biology, and machine learning to generate clinical immunomics data to decode the adaptive immune system.