Adaptive Biotechnologies' (ADPT) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a strong "sell (D-)" rating for Adaptive Biotechnologies (ADPT), indicating ongoing concerns about the company's stock performance.
• Despite the negative rating from Weiss Ratings, several analysts, including JPMorgan and Piper Sandler, have raised their price targets for ADPT, reflecting varied investor sentiment.
• The company's latest quarterly earnings report showed positive revenue growth of 36.3% year-over-year, with actual revenue of $49.94 million exceeding analyst estimates.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report)'s stock had its "sell (d-)" rating reissued by investment analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Adaptive Biotechnologies from $14.00 to $17.00 and gave the company an "overweight" rating in a report on Monday, October 13th. Piper Sandler upped their price objective on shares of Adaptive Biotechnologies from $15.00 to $20.00 and gave the company an "overweight" rating in a research report on Wednesday, October 15th. TD Cowen upped their price objective on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. BTIG Research upped their price objective on shares of Adaptive Biotechnologies from $14.00 to $19.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Guggenheim began coverage on shares of Adaptive Biotechnologies in a research report on Tuesday, September 30th. They issued a "buy" rating and a $20.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $15.22.

Adaptive Biotechnologies Price Performance

Shares of ADPT traded up $0.31 during midday trading on Friday, reaching $17.47. 387,264 shares of the stock were exchanged, compared to its average volume of 2,002,633. The business's 50-day moving average price is $13.99 and its 200 day moving average price is $11.32. Adaptive Biotechnologies has a twelve month low of $4.27 and a twelve month high of $17.89. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -21.30 and a beta of 2.06.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.07. Adaptive Biotechnologies had a negative return on equity of 60.93% and a negative net margin of 59.07%.The company had revenue of $49.94 million for the quarter, compared to analyst estimates of $49.40 million. During the same quarter in the previous year, the company earned ($0.31) EPS. The firm's revenue for the quarter was up 36.3% compared to the same quarter last year. As a group, equities research analysts expect that Adaptive Biotechnologies will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in Adaptive Biotechnologies by 36.5% during the first quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock worth $100,000 after buying an additional 3,583 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Adaptive Biotechnologies during the first quarter worth approximately $87,000. Teacher Retirement System of Texas bought a new stake in Adaptive Biotechnologies during the first quarter worth approximately $708,000. Principal Financial Group Inc. boosted its holdings in Adaptive Biotechnologies by 98.8% during the first quarter. Principal Financial Group Inc. now owns 285,135 shares of the company's stock worth $2,119,000 after buying an additional 141,691 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Adaptive Biotechnologies by 3.8% during the first quarter. D.A. Davidson & CO. now owns 91,850 shares of the company's stock worth $682,000 after buying an additional 3,400 shares in the last quarter. 99.17% of the stock is currently owned by institutional investors.

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.

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