Adaptive Biotechnologies Corporation (NASDAQ:ADPT) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Adaptive Biotechnologies Corporation (NASDAQ:ADPT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seven analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.57.

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

Adaptive Biotechnologies Stock Down 1.0%

ADPT stock traded down $0.11 during mid-day trading on Friday, hitting $10.39. The company had a trading volume of 1,439,990 shares, compared to its average volume of 1,645,387. The company has a 50-day moving average price of $10.40 and a 200 day moving average price of $8.67. Adaptive Biotechnologies has a 12-month low of $3.85 and a 12-month high of $12.43.

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

Insider Buying and Selling

In other news, insider Harlan S. Robins sold 68,412 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.35, for a total value of $502,828.20. Following the completion of the transaction, the insider directly owned 1,279,524 shares of the company's stock, valued at $9,404,501.40. The trade was a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 6.40% of the company's stock.

Institutional Trading of Adaptive Biotechnologies

Hedge funds have recently made changes to their positions in the company. Fox Run Management L.L.C. boosted its holdings in Adaptive Biotechnologies by 8.2% in the first quarter. Fox Run Management L.L.C. now owns 21,565 shares of the company's stock worth $160,000 after purchasing an additional 1,631 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Adaptive Biotechnologies by 2.7% in the 4th quarter. Russell Investments Group Ltd. now owns 80,994 shares of the company's stock valued at $486,000 after buying an additional 2,163 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Adaptive Biotechnologies by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,916 shares of the company's stock valued at $395,000 after buying an additional 2,625 shares during the last quarter. D.A. Davidson & CO. raised its stake in Adaptive Biotechnologies by 3.8% during the first quarter. D.A. Davidson & CO. now owns 91,850 shares of the company's stock worth $682,000 after acquiring an additional 3,400 shares during the period. Finally, GAMMA Investing LLC raised its stake in Adaptive Biotechnologies by 36.5% during the first quarter. GAMMA Investing LLC now owns 13,393 shares of the company's stock worth $100,000 after acquiring an additional 3,583 shares during the period. Hedge funds and other 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.