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

Key Points

• Adaptive Biotechnologies Corporation has received an average rating of "Moderate Buy" from analysts, with one hold and eight buy ratings.
• The company's stock has a current market cap of $2.22 billion and has seen its revenue increase by 36.3% year-over-year.
• Institutional and hedge funds own 99.17% of the company's stock, indicating strong backing from large investors.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) has earned an average rating of "Moderate Buy" from the nine ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $13.2222.

A number of research analysts have commented on the stock. Craig Hallum assumed coverage on shares of Adaptive Biotechnologies in a research report on Wednesday, June 18th. They issued a "buy" rating and a $15.00 target price on the stock. Piper Sandler upped their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Guggenheim assumed coverage on shares of Adaptive Biotechnologies in a research report on Tuesday. They issued a "buy" rating and a $20.00 target price on the stock. TD Cowen upped their target price 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Adaptive Biotechnologies from $10.00 to $14.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th.

Adaptive Biotechnologies Trading Down 2.7%

Shares of ADPT stock opened at $14.56 on Thursday. The company's 50-day moving average price is $12.56 and its 200-day moving average price is $10.43. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -17.76 and a beta of 2.06. Adaptive Biotechnologies has a twelve month low of $4.27 and a twelve month high of $15.26.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last posted its 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. Adaptive Biotechnologies had a negative net margin of 59.07% and a negative return on equity of 60.93%. The company had revenue of $49.94 million for the quarter, compared to analysts' expectations of $49.40 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. Adaptive Biotechnologies's revenue for the quarter was up 36.3% compared to the same quarter last year. As a group, equities research analysts predict that Adaptive Biotechnologies will post -0.92 EPS for the current year.

Institutional Trading of Adaptive Biotechnologies

Several hedge funds have recently made changes to their positions in ADPT. Two Sigma Investments LP lifted its position in shares of Adaptive Biotechnologies by 251.1% during the fourth quarter. Two Sigma Investments LP now owns 183,838 shares of the company's stock worth $1,102,000 after purchasing an additional 131,478 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Adaptive Biotechnologies by 396.2% during the fourth quarter. Two Sigma Advisers LP now owns 51,600 shares of the company's stock worth $309,000 after purchasing an additional 41,200 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Adaptive Biotechnologies by 265.3% during the fourth quarter. Squarepoint Ops LLC now owns 44,401 shares of the company's stock worth $266,000 after purchasing an additional 32,247 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Adaptive Biotechnologies during the fourth quarter worth about $711,000. Finally, California State Teachers Retirement System lifted its position in shares of Adaptive Biotechnologies by 1,060.5% during the fourth quarter. California State Teachers Retirement System now owns 97,388 shares of the company's stock worth $584,000 after purchasing an additional 88,996 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

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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