Brokerages Set Adaptive Biotechnologies Corporation (NASDAQ:ADPT) PT at $10.57

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) have received an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $10.57.

A number of research analysts have issued reports on the company. The Goldman Sachs Group lifted their price objective on Adaptive Biotechnologies from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Morgan Stanley increased their target price on shares of Adaptive Biotechnologies from $7.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Piper Sandler restated an "overweight" rating and issued a $13.00 price target (up from $11.00) on shares of Adaptive Biotechnologies in a research report on Tuesday, May 6th. Finally, Craig Hallum initiated coverage on shares of Adaptive Biotechnologies in a research note on Wednesday, June 18th. They set a "buy" rating and a $15.00 price objective on the stock.

Insider Buying and Selling

In related news, insider Harlan S. Robins sold 68,412 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $7.35, for a total value of $502,828.20. Following the transaction, the insider now owns 1,279,524 shares in the company, valued at $9,404,501.40. This trade represents a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ADPT. Cibc World Markets Corp acquired a new stake in Adaptive Biotechnologies in the 4th quarter valued at approximately $65,000. Blair William & Co. IL bought a new position in shares of Adaptive Biotechnologies during the 1st quarter worth approximately $84,000. Personal CFO Solutions LLC acquired a new stake in shares of Adaptive Biotechnologies in the first quarter valued at approximately $84,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Adaptive Biotechnologies in the first quarter worth $87,000. Finally, Candriam S.C.A. acquired a new position in Adaptive Biotechnologies during the first quarter worth $90,000. 99.17% of the stock is owned by institutional investors and hedge funds.

Adaptive Biotechnologies Trading Up 0.9%

NASDAQ:ADPT traded up $0.09 during mid-day trading on Tuesday, hitting $10.65. The company's stock had a trading volume of 1,508,045 shares, compared to its average volume of 1,568,116. The stock has a fifty day moving average of $9.14 and a 200-day moving average of $8.02. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -11.09 and a beta of 1.80. Adaptive Biotechnologies has a fifty-two week low of $3.26 and a fifty-two week high of $10.87.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.08. The business had revenue of $52.44 million during the quarter, compared to analysts' expectations of $42.13 million. Adaptive Biotechnologies had a negative return on equity of 62.79% and a negative net margin of 74.84%. Adaptive Biotechnologies's quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.33) EPS. On average, equities analysts anticipate that Adaptive Biotechnologies will post -0.92 earnings per share for the current fiscal year.

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.