Adaptive Biotechnologies (NASDAQ:ADPT) Hits New 1-Year High – Here’s Why

Adaptive Biotechnologies Corporation (NASDAQ:ADPT)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $22.99 and last traded at $22.90, with a volume of 3979442 shares. The stock had previously closed at $21.43.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ADPT shares. BTIG Research restated a “buy” rating and set a $22.00 price target on shares of Adaptive Biotechnologies in a report on Wednesday, June 17th. TD Cowen reaffirmed a “buy” rating on shares of Adaptive Biotechnologies in a research note on Wednesday. Guggenheim boosted their price objective on shares of Adaptive Biotechnologies from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Weiss Ratings reissued a “sell (d-)” rating on shares of Adaptive Biotechnologies in a research note on Monday, April 20th. Finally, Morgan Stanley raised their target price on shares of Adaptive Biotechnologies from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.83.

Adaptive Biotechnologies Stock Up 6.9%

The business has a 50 day moving average price of $17.09 and a 200 day moving average price of $16.09. The stock has a market cap of $3.67 billion, a P/E ratio of -69.39 and a beta of 2.07.

Adaptive Biotechnologies (NASDAQ:ADPT) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $61.03 million. During the same period last year, the company earned ($0.20) EPS. Adaptive Biotechnologies’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, research analysts expect that Adaptive Biotechnologies Corporation will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Harlan S. Robins sold 386,240 shares of Adaptive Biotechnologies stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $22.01, for a total transaction of $8,501,142.40. Following the completion of the sale, the insider directly owned 1,019,658 shares in the company, valued at approximately $22,442,672.58. This trade represents a 27.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sharon Benzeno sold 154,768 shares of the business’s stock in a transaction 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 sale, the insider directly owned 221,278 shares of the company’s stock, valued at $4,677,816.92. This represents a 41.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 939,605 shares of company stock worth $18,858,552. 5.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its stake in Adaptive Biotechnologies by 84.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company’s stock worth $89,337,000 after acquiring an additional 2,731,648 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Adaptive Biotechnologies by 303.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company’s stock valued at $71,252,000 after acquiring an additional 3,299,635 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Adaptive Biotechnologies during the fourth quarter valued at approximately $65,942,000. Geode Capital Management LLC boosted its holdings in shares of Adaptive Biotechnologies by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company’s stock valued at $57,041,000 after purchasing an additional 110,825 shares during the period. Finally, State Street Corp boosted its holdings in shares of Adaptive Biotechnologies by 3.3% in the fourth quarter. State Street Corp now owns 3,181,644 shares of the company’s stock valued at $51,670,000 after purchasing an additional 102,362 shares during the period. Institutional investors 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.