Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Adaptive Biotechnologies Corporation has received a consensus rating of "Moderate Buy" from analysts, with one hold and seven buy recommendations.
• Analysts have raised their target prices for the stock, with JPMorgan Chase increasing it from $10.00 to $14.00 and TD Cowen raising it from $13.00 to $15.00.
• The company reported a 36.3% increase in quarterly revenue year-over-year, totaling $49.94 million, exceeding analysts' expectations.

Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $12.3750.

ADPT has been the topic of a number of research analyst reports. TD Cowen boosted 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. Craig Hallum started 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. The Goldman Sachs Group upped their target price on shares of Adaptive Biotechnologies from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their target price on shares of Adaptive Biotechnologies from $10.00 to $14.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. Finally, Piper Sandler upped their target price on shares of Adaptive Biotechnologies from $13.00 to $15.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th.

Adaptive Biotechnologies Stock Performance

Shares of NASDAQ ADPT traded up $0.12 during mid-day trading on Wednesday, hitting $13.04. The stock had a trading volume of 1,878,220 shares, compared to its average volume of 2,089,652. Adaptive Biotechnologies has a 1 year low of $3.98 and a 1 year high of $13.37. The business has a 50 day moving average price of $11.21 and a two-hundred day moving average price of $9.26. The firm has a market cap of $1.99 billion, a P/E ratio of -15.90 and a beta of 1.92.

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

Hedge Funds Weigh In On Adaptive Biotechnologies

Hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System increased its position in shares of Adaptive Biotechnologies by 1.0% during the 2nd quarter. California State Teachers Retirement System now owns 98,321 shares of the company's stock valued at $1,145,000 after purchasing an additional 933 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Adaptive Biotechnologies by 7.6% during the 2nd quarter. Captrust Financial Advisors now owns 15,762 shares of the company's stock valued at $184,000 after purchasing an additional 1,119 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in Adaptive Biotechnologies by 6.8% in the 2nd quarter. Verdence Capital Advisors LLC now owns 22,315 shares of the company's stock worth $260,000 after acquiring an additional 1,426 shares in the last quarter. Fox Run Management L.L.C. increased its holdings in Adaptive Biotechnologies by 8.2% in the 1st quarter. Fox Run Management L.L.C. now owns 21,565 shares of the company's stock worth $160,000 after acquiring an additional 1,631 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Adaptive Biotechnologies by 2.7% in the 4th quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company's stock worth $486,000 after acquiring an additional 2,163 shares in the last quarter. Institutional investors 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.