Piper Sandler Reiterates Overweight Rating for Adaptive Biotechnologies (NASDAQ:ADPT)

Adaptive Biotechnologies (NASDAQ:ADPT)‘s stock had its “overweight” rating restated by analysts at Piper Sandler in a research note issued to investors on Thursday,Benzinga reports. They presently have a $11.00 price objective on the stock, up from their prior price objective of $7.00. Piper Sandler’s target price would suggest a potential upside of 33.01% from the company’s current price.

Several other brokerages have also recently commented on ADPT. BTIG Research lifted their price objective on shares of Adaptive Biotechnologies from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their target price on shares of Adaptive Biotechnologies from $5.50 to $7.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Scotiabank increased their price target on Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a “sector outperform” rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.10.

Adaptive Biotechnologies Price Performance

Shares of ADPT stock opened at $8.27 on Thursday. The business has a fifty day moving average of $7.20 and a 200 day moving average of $5.77. Adaptive Biotechnologies has a 1 year low of $2.28 and a 1 year high of $8.95. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -7.59 and a beta of 1.50.

Adaptive Biotechnologies (NASDAQ:ADPT) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.04. Adaptive Biotechnologies had a negative return on equity of 64.65% and a negative net margin of 89.12%. During the same period in the previous year, the business earned ($0.30) earnings per share. As a group, equities research analysts expect that Adaptive Biotechnologies will post -0.94 earnings per share for the current year.

Insider Activity at Adaptive Biotechnologies

In other Adaptive Biotechnologies news, CEO Chad M. Robins sold 211,160 shares of Adaptive Biotechnologies stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $8.50, for a total value of $1,794,860.00. Following the completion of the transaction, the chief executive officer now owns 2,576,701 shares of the company’s stock, valued at approximately $21,901,958.50. The trade was a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 469,188 shares of company stock worth $3,975,795 in the last three months. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

A number of institutional investors have recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new position in shares of Adaptive Biotechnologies during the 3rd quarter worth approximately $34,000. KBC Group NV acquired a new position in Adaptive Biotechnologies during the fourth quarter worth $50,000. Townsquare Capital LLC purchased a new position in Adaptive Biotechnologies during the third quarter valued at $56,000. GAMMA Investing LLC acquired a new stake in shares of Adaptive Biotechnologies in the fourth quarter valued at about $59,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth about $65,000. 99.17% of the stock is currently owned by institutional investors and hedge funds.

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.