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

Key Points

• Analyst sentiment is cautiously positive: Adaptive Biotechnologies has an average broker rating of “Moderate Buy” from seven analysts, with a consensus 1-year price target of $20.50. Five analysts rate it a buy, while one each rate it a sell and hold.
• Recent insider selling was notable: Insiders sold 698,316 shares worth about $11.7 million over the last 90 days. Two disclosed sales came from Harlan S. Robins and Sharon Benzeno under pre-arranged Rule 10b5-1 plans.
• Fundamentals showed growth but continued losses: The company recently beat quarterly expectations with revenue of $70.87 million and EPS of -$0.13, while revenue grew 35.1% year over year. Shares opened at $21.19, near the 52-week high of $22.80.

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $20.50.

A number of equities research analysts have weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Adaptive Biotechnologies in a research report on Monday, April 20th. BTIG Research reiterated a "buy" rating and set a $22.00 price target on shares of Adaptive Biotechnologies in a research report on Wednesday, June 17th. TD Cowen boosted their price objective on Adaptive Biotechnologies from $19.00 to $21.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Morgan Stanley decreased their target price on Adaptive Biotechnologies from $21.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered Adaptive Biotechnologies from a "buy" rating to a "hold" rating in a report on Saturday, March 7th.

Insider Buying and Selling

In related news, insider Harlan S. Robins sold 6,160 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $18.01, for a total transaction of $110,941.60. Following the completion of the sale, the insider directly owned 1,405,898 shares of the company's stock, valued at $25,320,222.98. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Sharon Benzeno sold 154,768 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $21.14, for a total transaction of $3,271,795.52. Following the sale, the insider owned 221,278 shares of the company's stock, valued at $4,677,816.92. The trade was a 41.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 698,316 shares of company stock worth $11,655,488 in the last ninety days. Insiders own 5.70% of the company's stock.

Institutional Investors Weigh In On Adaptive Biotechnologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. raised its position in shares of Adaptive Biotechnologies by 84.3% during the third quarter. Ameriprise Financial Inc. now owns 5,971,706 shares of the company's stock worth $89,337,000 after purchasing an additional 2,731,648 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Adaptive Biotechnologies by 303.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,387,361 shares of the company's stock worth $71,252,000 after purchasing an additional 3,299,635 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Adaptive Biotechnologies during the 4th quarter worth about $65,942,000. Geode Capital Management LLC raised its holdings in Adaptive Biotechnologies by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 3,511,855 shares of the company's stock worth $57,041,000 after buying an additional 110,825 shares during the period. Finally, State Street Corp lifted its stake in Adaptive Biotechnologies by 3.3% during the fourth quarter. State Street Corp now owns 3,181,644 shares of the company's stock valued at $51,670,000 after buying an additional 102,362 shares in the last quarter. Institutional investors and hedge funds own 99.17% of the company's stock.

Adaptive Biotechnologies Stock Performance

Adaptive Biotechnologies stock opened at $21.19 on Friday. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -64.21 and a beta of 2.07. The company's 50-day moving average price is $16.09 and its two-hundred day moving average price is $15.86. Adaptive Biotechnologies has a 52 week low of $9.96 and a 52 week high of $22.80.

Adaptive Biotechnologies (NASDAQ:ADPT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. The company had revenue of $70.87 million during the quarter, compared to analyst estimates of $61.03 million. Adaptive Biotechnologies had a negative net margin of 16.82% and a negative return on equity of 40.06%. The business's revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.20) EPS. Research analysts expect that Adaptive Biotechnologies will post -0.47 earnings per share for the current fiscal year.

About Adaptive Biotechnologies

Adaptive Biotechnologies is a clinical-stage biotechnology company that focuses on harnessing the adaptive immune system to transform the diagnosis and treatment of disease. Through proprietary immune receptor sequencing and analysis, the company decodes the genetic information of T-cell and B-cell receptors to identify signatures of immune response. Its core technology platform provides insights into immune-driven conditions, enabling more precise monitoring and targeted therapeutic development.

The company's flagship product, immunoSEQ, offers high-throughput immune repertoire profiling for researchers and pharmaceutical partners.

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