Adaptive Biotechnologies Co. (NASDAQ:ADPT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Adaptive Biotechnologies Co. (NASDAQ:ADPT - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $9.83.

Several brokerages recently commented on ADPT. Scotiabank boosted their price target on shares of Adaptive Biotechnologies from $10.00 to $12.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 13th. Piper Sandler reissued an "overweight" rating and issued a $13.00 price target (up previously from $11.00) on shares of Adaptive Biotechnologies in a report on Tuesday, May 6th. The Goldman Sachs Group boosted their price target on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Morgan Stanley boosted their price target on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th.

Insider Buying and Selling

In other news, CFO Kyle Piskel sold 10,320 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total value of $72,033.60. Following the completion of the transaction, the chief financial officer now owns 269,010 shares of the company's stock, valued at approximately $1,877,689.80. This trade represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Chad M. Robins sold 117,351 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $6.98, for a total transaction of $819,109.98. Following the completion of the transaction, the chief executive officer now directly owns 2,814,350 shares of the company's stock, valued at approximately $19,644,163. The trade was a 4.00% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 358,754 shares of company stock worth $2,584,806. Insiders own 6.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers lifted its stake in Adaptive Biotechnologies by 4.0% in the first quarter. Rhumbline Advisers now owns 188,524 shares of the company's stock worth $1,401,000 after acquiring an additional 7,322 shares during the last quarter. Strs Ohio purchased a new position in Adaptive Biotechnologies in the first quarter worth approximately $611,000. Acadian Asset Management LLC lifted its stake in Adaptive Biotechnologies by 44.1% in the first quarter. Acadian Asset Management LLC now owns 183,113 shares of the company's stock worth $1,357,000 after acquiring an additional 56,058 shares during the last quarter. Caxton Associates LLP purchased a new position in Adaptive Biotechnologies in the first quarter worth approximately $93,000. Finally, Teza Capital Management LLC purchased a new position in Adaptive Biotechnologies in the first quarter worth approximately $118,000. Hedge funds and other institutional investors own 99.17% of the company's stock.

Adaptive Biotechnologies Trading Up 2.3%

NASDAQ ADPT traded up $0.21 on Friday, hitting $9.52. 1,759,239 shares of the company's stock traded hands, compared to its average volume of 1,580,909. Adaptive Biotechnologies has a 1-year low of $2.99 and a 1-year high of $10.28. The firm's 50-day moving average price is $8.30 and its two-hundred day moving average price is $7.46. The firm has a market capitalization of $1.45 billion, a PE ratio of -8.73 and a beta of 1.75.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.08. Adaptive Biotechnologies had a negative net margin of 89.12% and a negative return on equity of 64.65%. The firm had revenue of $52.44 million during the quarter, compared to analysts' expectations of $42.13 million. During the same period in the previous year, the business posted ($0.33) EPS. The business's revenue was up 25.2% compared to the same quarter last year. On average, research analysts anticipate that Adaptive Biotechnologies will post -0.92 earnings per share for the current fiscal 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.