Adaptive Biotechnologies Co. (NASDAQ:ADPT) Receives $6.80 Average PT from Brokerages

Shares of Adaptive Biotechnologies Co. (NASDAQ:ADPT) have been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $6.80.

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

Adaptive Biotechnologies Stock Up 6.5 %

ADPT stock opened at $2.79 on Monday. Adaptive Biotechnologies has a 52-week low of $2.28 and a 52-week high of $9.08. The firm has a market cap of $411.16 million, a P/E ratio of -1.79 and a beta of 1.25. The company’s 50-day simple moving average is $3.16 and its 200-day simple moving average is $3.94.

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

Insiders Place Their Bets

In related news, insider Kyle Piskel sold 7,727 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $26,503.61. Following the completion of the sale, the insider now owns 123,318 shares of the company’s stock, valued at approximately $422,980.74. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, President Julie Rubinstein sold 39,070 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.47, for a total transaction of $135,572.90. Following the completion of the sale, the president now directly owns 472,754 shares in the company, valued at $1,640,456.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kyle Piskel sold 7,727 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $3.43, for a total transaction of $26,503.61. Following the completion of the transaction, the insider now owns 123,318 shares in the company, valued at $422,980.74. The disclosure for this sale can be found here. Insiders have sold a total of 124,307 shares of company stock valued at $428,090 in the last 90 days. 5.20% of the stock is owned by insiders.

Institutional Trading of Adaptive Biotechnologies

Several institutional investors have recently made changes to their positions in the company. AXQ Capital LP purchased a new position in Adaptive Biotechnologies in the third quarter worth approximately $58,000. Personal CFO Solutions LLC purchased a new position in shares of Adaptive Biotechnologies during the 4th quarter worth $55,000. QRG Capital Management Inc. acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter valued at about $71,000. First Trust Direct Indexing L.P. purchased a new stake in shares of Adaptive Biotechnologies in the 1st quarter valued at approximately $47,000. Finally, RPO LLC acquired a new position in shares of Adaptive Biotechnologies in the 4th quarter worth approximately $78,000. Hedge funds and other institutional investors own 99.17% of the company’s stock.

About Adaptive Biotechnologies

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.