Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts have given Adaptive Biotechnologies Corporation a consensus recommendation of "Moderate Buy", with the average 12-month target price set at $12.3750.
• TD Cowen and JPMorgan Chase recently increased their price targets for the stock, with both setting new targets at $15.00 and $14.00, respectively.
• The company reported a revenue of $49.94 million in its last quarter, surpassing analysts' expectations, with a year-over-year revenue increase of 36.3%.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $12.3750.

A number of analysts recently commented on ADPT shares. TD Cowen upped their price target on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Adaptive Biotechnologies from $10.00 to $14.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Craig Hallum began coverage on shares of Adaptive Biotechnologies in a research note on Wednesday, June 18th. They issued a "buy" rating and a $15.00 target price on the stock. Finally, Piper Sandler increased their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th.

Adaptive Biotechnologies Stock Down 1.3%

Adaptive Biotechnologies stock opened at $12.85 on Friday. Adaptive Biotechnologies has a twelve month low of $3.98 and a twelve month high of $13.52. The firm has a 50 day moving average price of $11.84 and a 200-day moving average price of $9.77. The company has a market capitalization of $1.96 billion, a P/E ratio of -15.67 and a beta of 1.93.

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

Institutional Trading of Adaptive Biotechnologies

Several institutional investors and hedge funds have recently bought and sold shares of ADPT. Osaic Holdings Inc. raised its position in shares of Adaptive Biotechnologies by 36.6% during the 2nd quarter. Osaic Holdings Inc. now owns 95,493 shares of the company's stock valued at $1,112,000 after buying an additional 25,579 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Adaptive Biotechnologies by 3.1% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 30,512 shares of the company's stock valued at $355,000 after buying an additional 910 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Adaptive Biotechnologies by 225.4% during the 2nd quarter. Squarepoint Ops LLC now owns 217,951 shares of the company's stock valued at $2,539,000 after buying an additional 150,963 shares in the last quarter. State of Wyoming purchased a new stake in shares of Adaptive Biotechnologies during the 2nd quarter valued at $411,000. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of Adaptive Biotechnologies by 168.4% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 25,917 shares of the company's stock valued at $302,000 after buying an additional 16,262 shares in the last quarter. 99.17% of the stock is currently owned by hedge funds and other institutional investors.

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.

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